Florida, an international state

Business America, Jan 7, 1985 by Wayne Mixson

Florida, An International State

Florida's economy has undergone a dramatic transformation in recent years. Once based on tourism, agriculture and construction, the economy has grown and diversified into other areas.

Perhaps the most prominent of these is international trade and commerce, which has evolved from a relatively small industry to one of the key ingredients of the state's economic mix.

The continuing growth and development of foreign trade in Florida can be attributed to a number of factors. Among these are the state's strategic geographic location, its peninsular coastline with 14 deepwater ports, its outstanding international airports, six free trade zones, 13 World Trade Councils, sophisticated international banking community, and its large bilingual labor pool.

All have contributed to the "internationalization' of Florida, a trend we are actively encouraging through the programs and activities of the Florida Department of Commerce Bureau of International Trade and Development.

Headquartered in Tallahassee, the bureau is organized into Asian, European and Export Services Sections. It also includes international offices which service Latin America, Europe and the Far East, located, respectively, in Coral Gables, Frankfurt, London and Tokyo.

In an effort to promote Florida products and services overseas, the bureau organizes and leads trade missions, participates in international fairs and expositions, collects trade leads for Florida companies, and supports local private sector initiatives.

In addition to its overseas efforts to increase state exports, the bureau offers export seminars, and a computerized trade lead referral service.

Last year, 86 export seminars offering either basic or advanced information to Florida businesses were held in various locations throughout the state. A total of 3,169 business representatives attended these seminars.

Through its innovative computerized trade leads program, 834 trade leads were distributed by the Commerce Department to Florida companies interested in exporting.

The outstanding success of the international development programs of the Florida Department of Commerce were recognized by President Reagan, who presented the President's "E-Star Award for Export Services' to the agency last year.

The state continues to refine its existing productive programs and to create new ones.

An example of this was the recent creation of an office to coordinate the state's efforts relating to the Caribbean Basin Initiative (CBI).

The CBI eliminates import duties from many of the products that are or can be produced in Caribbean countries. It also provides tax and other incentives to U.S. companies to locate assembly or manufacturing plants in those countries.

Florida stands to gain the most among all U.S. states from the effects of the CBI. Long known as the "Gateway to the Americas,' the state provides an easy conduit for the flow of goods in and out of the region. Approximately 30 percent of the state's total trade is with the nations of the Caribbean.

There are five facets to Florida's CBI strategy:

The state will encourage direct investment in Florida by businesses seeking to establish offshore operations under a joint production concept.

Increase the flow of Florida exports to support the new industry that goes into the Caribbean.

Increase the use of Florida ports and corresponding support services.

Increase the use of Florida banking institutions by industry going into the Caribbean.

Assist Florida companies in remaining globally competitive.

Florida has many advantages as an international state. We intend to do everything in our power to maximize these advantages and fully develop our potential as a center for world trade in the years ahead.