Current:Home > StocksHow important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings -WealthSphere Pro
How important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings
View
Date:2025-04-13 06:26:05
Although Tampa Bay was spared a direct hit by Hurricane Milton's eye, the area still sustained significant damage and will likely take time to recover.
For the Port of Tampa Bay, that could mean a prolonged period of closure, depending on the exact state of the port.
The Port of Tampa Bay was not immediately able to provide an assessment of damage to USA TODAY.
Still, as the 24th largest port in the country, and one of the largest importers and exporters of certain industrial products, a closure could hit some industries especially hard.
“A prolonged closure would certainly be challenging to the local economy, especially for Floridians who are short on gasoline right now," Jason Miller, a professor of supply chain management at Eli Broad College of Business at Michigan State University, told USA TODAY. "Even if there is no damage (to the port's facilities), there probably will be some challenges getting that gasoline to inland stations” because there is widespread damage and debris on the roads.
Here's what to know about the Port of Tampa.
How big is the Port of Tampa Bay?
The Port of Tampa is the 24th largest port in the U.S. According to the port operator, it serves an area with a population of 8 million and more than 20 million visitors annually. Overall, Florida ports are responsible for handling many exports to Latin America and imports from Asia.
What are the Port of Tampa Bay's main exports?
The Port of Tampa Bay is a major exporter of fertilizer and related products, as well as certain food products. According to Census Bureau trade data, about 99% of fertilizer produced in the U.S for export moves through the Port of Tampa. If those facilities are damaged, Miller said, it could be especially difficult for the fertilizer industry.
“You can usually assume if a port is accounting for 90% of a total of something, it’s not going to be the easiest to reroute, especially on the export side," he said.
What are the Port of Tampa Bay's main imports?
Industrial products also account for a majority of the port's imports, with 96% of imported sulfur in the U.S. moving through Tampa.
Food products, including orange juice, is also a major import through Tampa Bay.
How important is the Port of Tampa Bay to the US economy?
According to Miller and the Federal Reserve Production Index, fertilizer production represents 0.42% of the manufacturing economy in the U.S., so while a prolonged closure would likely not have a huge impact nationally it would still affect the local economy significantly, as well as the agricultural sector. The port also hosts five cruise lines that run itineraries ranging from four to 14 days.
“In terms of importance for the overall economy, not that, that, that large, but that doesn’t mean it doesn’t have an impact on farmers who need fertilizer," Miller said. "The big thing is we’re just waiting to see for this specific case what the damage assessment is with the port. Hopefully, that is minimal, and operations can resume as fast as possible."
Zach Wichter is a travel reporter for USA TODAY based in New York. You can reach him at [email protected].
veryGood! (4194)
Related
- What do we know about the mysterious drones reported flying over New Jersey?
- Bill to offset student debt through tax credit passes Pennsylvania House
- Atlanta man gets life in death of longtime friend over $35; victim's wife speaks out
- Vermont owner of now-defunct firearms training center is arrested
- The Grammy nominee you need to hear: Esperanza Spalding
- Biden administration to invest $8.5 billion in Intel's computer chip plants in four states
- Chipotle plans rare 50-for-1 stock split as share price nears $3,000
- Hungry to win: Jets fan sent Mike Williams breakfast sandwich to persuade him to sign
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Caroline Wozniacki & More Tennis Pros Support Aryna Sabalenka After Konstantin Koltsov's Death
Ranking
- What do we know about the mysterious drones reported flying over New Jersey?
- Watch Kim Kardashian Kiss—and Slap—Emma Roberts in Head-Spinning American Horror Story Trailer
- Kentucky couple tried to sell their newborn twins for $5,000, reports say
- Suspect charged in Indianapolis bar shooting that killed 1 person and injured 5
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Our Place Cookware: Everything To Know about the Trending Kitchen Brand
- 1 of the few remaining survivors of the attack on Pearl Harbor has died at 102
- Many Americans want to stop working at 60 and live to 100. Can they afford it?
Recommendation
Military service academies see drop in reported sexual assaults after alarming surge
Federal officials want to know how airlines handle — and share — passengers’ personal information
2 hospitalized, 27 safe after rowing club boats capsize off Connecticut
With Netflix series '3 Body Problem,' 'Game Of Thrones' creators try their hand at sci-fi
Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
It’s not just a theory. TikTok’s ties to Chinese government are dangerous.
Making a restaurant reservation? That'll be $100 — without food or drinks.
'Real Housewives of Potomac' star Karen Huger involved in car crash after allegedly speeding