SPECIAL ADVERTISING SECTION
JACKSONVILLE TRADE AND LOGISTICS
An $ 85.3 million investment in Trailer Bridge ’ s Army Terminal was announced in March .
Trailer Bridge the Dominican Republic , Haiti and Virgin Islands for more than 30 years . In March , a historic investment of $ 85.3 million in the company ’ s Army Terminal in Puerto Rico was announced . The funds will aid in the rehabilitation of the terminal ’ s finger pier , increased terminal efficiencies and support for Trailer Bridge ’ s weekly Jones Act service to the island .
The Jacksonville area also touts a foreign trade zone ( FTZ ) designation , providing businesses with opportunities for duty deferral , reduction or elimination on imported goods . FTZ status enables goods within the zone to be considered outside of US Customs jurisdiction , allowing significant cost savings , optimization of
import processes and minimization of tariffrelated expenses . Northeast Florida ’ s FTZ No . 64 spans more than 5,000 square miles and offers room for growth , with the ability for storage and distribution sites to come online within 30 days and production sites within 120 days .
Florida saw 86 % gains in corporate headquarters relocating to the state in 2022 – 2023 , the most of any state in the country , and Jacksonville had net growth of 67 % of corporate relocations from 2022 – 2023 , the highest of any major US city .
As globalization and trade liberalization continue to advance , Jacksonville should expect to see sustained expansion across various cargo categories and increased interest from international companies looking to expand their reach and presence in the US marketplace . This is very much in line with the region ’ s overall trajectory over the last few years .
“ As we see growth across all of these business lines , it ’ s in some ways reflective of the growth overall of our city ,” Jaxport Chief Commercial Officer Robert Peek said . “ Florida is now the third most populous state in the United States , and northeast Florida is one of the fastest growing areas within the state . We ’ re seeing a lot of growth in northeast Florida , in the city of Jacksonville and at the port , [ and ] we will continue to do so for many years to come .” ■
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20 Journal of Commerce | April 22 , 2024 www . joc . com