Memorandum of Understanding will strengthen global trade efforts to attract more jobs to the region
The Canaveral Port Authority (CPA) and Volusia County’s Division of Economic Development have signed a Memorandum of Understanding (MOU) that establishes a working relationship promoting each other’s geographical and business advantages. The agreement aims to attract more global business by bringing more Florida-bound cargo to the region.
“This collaborative effort with Volusia County provides an opportunity to attract more global cargo operations to our Port,” stated Capt. John Murray, Port Canaveral CEO. “Strategic partnerships like this can attract new business, create jobs and promote economic development for the Central Florida region.”
Port Canaveral and Volusia County each maintain a Foreign Trade Zone (“FTZ”) for the benefit of the Central Florida region. Under this MOU, the CPA and Volusia County’s Division of Economic Development will work together to attract new business development initiatives that require the use of a deep-water port and access to the maritime shipping industry which the Port can provide. Such cooperation may involve participating in outreach events with organizations and potential business entities to promote logistics, transportation, and manufacturing benefits.
Florida Department of Transportation Secretary Kevin J. Thibault, P.E. commended Volusia County’s partnership with ports stating, “As we continue to invest in our state’s transportation system, including our ports, roads, and rail, it’s rewarding to see those investments being put to work to benefit communities across the county and regional lines. This type of teamwork helps market Florida’s world-class infrastructure to the world, bringing more jobs and businesses to our state while maximizing the return on the investments we’ve made for the citizens of Florida.”
The Canaveral Port Authority Board of Commissioners approved the MOU at the Commission’s regular monthly meeting in January. Representatives of Port Canaveral and Volusia County have agreed to meet regularly to share information about companies looking to expand or locate in Volusia County and how the joint partnership may best serve them. There is no commitment of CPA funds under this MOU.
“Volusia County Division of Economic Development is excited to partner with Port Canaveral. The partnership will benefit new and existing Volusia businesses as a conduit to new markets,” said Volusia County Economic Development Director Helga van Eckert.
Established in 1987, Port Canaveral’s Foreign Trade Zone #136 offers advantages to businesses dealing in international trade, such as free-trade cost discounts, duty-free storage, and jet fuel for international flights. The foreign trade zone concept was developed to encourage international trade by American companies and to preserve American jobs.
