Florida's Economic Pillars

 

 

 

 

 

Transportation, communications and utilities have always been a powerful driver of Florida’s growth. Community access to water has emerged in recent years as another critical and declining asset that
could shape Florida’s development into the future.

  
 
Significant infrastructure investments are needed across the board to accommodate existing deficiencies and support anticipated growth in a state whose population is expected to climb by almost one-third to 25 million people by 2030.

The cascade of costs is staggering and the infrastructure gauge is leaning slightly negative due to:

  • Congestion still rising in urban areas and on iterregional highway corridors
  • Sprawl threatens farm land, environmental resources and water supply
  • Billions of dollars in unfunded transportation, energy and school infrastructure needs
The Florida Department of Transportation estimates a total unfunded investment need of more than $50 billion across all modes over the next 20 years. The American Society of Civil Engineers also estimating a need for $2.7 billion in drinking water infrastructure and $10 billion in wastewater work needed over the next two decades. The organization also warned that more than half of Florida public schools have at least one inadequate building feature and 80 percent have environmental problems.

Meanwhile, maintaining adequate roads, airports and seaports are at the heart of the state’s economic future.

Florida’s transportation system, one of the most diverse and multimodal in the world, includes a statewide highway network, 3,000 miles of rail, 14 deepwater ports, 19 commercial service airports and the nation’s largest spaceport.

But the transportation system is facing increasing pressure meeting growth in demand for moving both people and freight. Florida DOT estimates delays on major highways are increasing 6 percent per year, while 34 percent of major urban roads are congested during peak periods, a level expected to increase into the future.

Airports and seaports also face capacity strains, while rail and transit offer an alternate source of travel only in limited parts of Florida. Additional transportation funding sources, including user fees, long-term energy and water strategies, and enhanced efforts to shield the State Transportation Trust Fund from being diverted to offset budget cuts to other programs may be demanded in the near-term to keep Florida competitive.