by Miranda G. McLeod
Staff Writer
The 30-year lease with Mitsui O.S.K. Lines and Trapac will have the same financial impact as three Super Bowls not in just one year, but every year, according to Rick Ferrin, executive director of the Jacksonville Port Authority.
Ferrin was the guest speaker at the local chapter of the National Association of Industrial and Office Properties May luncheon and discussed attributes of the Port and recent numbers.
It’s the 13th largest port in the United States and Ferrin predicts it will be in the top five within 10 years. The port is number one for trade with Puerto Rico and the second busiest in vehicle handling behind the ports of New Jersey and New York.
In 2008, when the Mitsui terminal is complete, Ferrin says Jacksonville will provide great competition to the ports of Charleston and Savannah.
Currently, the port handles 777,812 tons of cargo. In 2012, that number is expected to be 1.8 million tons.
“These are conservative and achievable numbers,” said Ferrin. “They clearly put us in contention with Charleston and Savannah.”
Ferrin also discussed security at the port. More than $800,000 was spent on security in 2001. Last year, more than $4 million was spent.
“I’m spending a lot of money to keep the port secure,” said Ferrin, whose goal is to maintain cargo efficiency.
NAIOP members also appreciate the port’s value to the local economy.
“The port business is a fundamentally huge contributor to our economy,” said Dave Auchter, president of the Auchter Company and the local chapter of NAIOP.
Although the Mitsui deal was signed last August, many NAIOP members didn’t realize the scope of the agreement.
The deal is expected to infuse more than $900 million a year in beneficial economic activity and it opens the East Coast to shipping routes with Asia.
“Northeast Florida never has tapped into the Asian market directly,” said Robert Peek, director of communication for the Port. “Mitsui is the missing link. Companies know we’re going to grow and they’re going to take advantage of it.”
Ricardo Morales is a board member at the Port as well as a NAIOP member. He said the biggest buzz in Jacksonville is the Port Authority.
“We’ve have good stories, no scandals and good press,” he said to the more than 100 people who attended the luncheon at the Marriott Southpoint.