Current:Home > InvestHow important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings -ClearPath Finance
How important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings
View
Date:2025-04-19 19:26:53
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! (778)
Related
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Perfect no more, Rangers suddenly face ALCS test: 'Nobody said it was gonna be easy'
- Burt Young, Sylvester Stallone's brother-in-law Paulie from 'Rocky' films, dies at 83
- While visiting wartime Israel, New York governor learns of her father’s sudden death back home
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Sidney Powell vowed to ‘release the Kraken’ to help Donald Trump. She may now testify against him
- Arizona’s Maricopa County has a new record for heat-associated deaths after the hottest summer
- Gaza under Israeli siege: Bread lines, yellow water and nonstop explosions
- Average rate on 30
- Watch: Meadow the Great Dane gives birth to 15 puppies in North Carolina, becomes media star
Ranking
- Travis Hunter, the 2
- Mid-November execution date set for Alabama inmate convicted of robbing, killing man in 1993
- Hundreds feared dead in Gaza hospital blast as Israeli, Palestinian officials trade accusations
- Fed Chair Powell: Slower economic growth may be needed to conquer stubbornly high inflation
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- More than 300 arrested in US House protest calling for Israel-Hamas ceasefire
- Fed Chair Powell signals central bank could hold interest rates steady next month
- Republicans warn many Gaza refugees could be headed for the U.S. Here’s why that’s unlikely
Recommendation
A South Texas lawmaker’s 15
Crypto firms Gemini, DCG sued by New York for allegedly bilking investors of $1.1 billion
Maryland police investigating fatal shooting of a circuit court judge
Stephen Rubin, publisher of 'The Da Vinci Code,' dies after 'sudden illness' at 81
Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Former AP videojournalist Yaniv Zohar, his wife and 2 daughters killed in Hamas attack at their home
Erin Foster Accuses Chad Michael Murray of Cheating on Her With Sophia Bush
ICC drops war crimes charges against former Central African Republic government minister