Florida Port Retailers On Track for Growth Despite Sequestration

by Isaac Benmergui, Esq on March 15, 2013

Pen with GraphAlthough federal spending cuts could slow growth at the nation’s ports, import cargo volume at container ports is expected to rise by 2.3 percent this month over last year at this time, according to a Global Port Tracker report. A decrease in port activity would also slow growth in Florida’s housing and commercial real estate markets and could fuel foreclosure activity.

Jonathan Gold, NRF vice president for customs policy said that retailers understand that the resulting cuts from sequestration will affect Customs operations, but are working to minimize the effects on store inventories.  “This is a situation the industry is monitoring very closely,” said Gold.

At Port Everglades, which is staffed by personnel from U.S. Customs and Border Patrol Protection, has already made staffing adjustments in lessen the impact of the sequestration’s mandatory cuts. Port officials are monitoring the situation closely, but state that it is too soon to determine if the cuts will significantly affect daily operations.

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