Summit brings trade with Puerto Rico to forefront

Attendees discuss business between Jacksonville and its Caribbean neighbor.

By TIMOTHY J. GIBBONS, The Times-Union
ST. AUGUSTINE -- Trade between Jacksonville and Puerto Rico will remain important in coming years, although that business could be hurt if the commonwealth's economy continues to take on water.
About 300 shippers, steamship companies, freight forwarders and others came together at World Golf Village to hear that message Tuesday during the Jacksonville Port Authority's second Puerto Rico summit. About a dozen or so attendees were unable to attend because of airport closures due to Hurricane Wilma, although some are expected today, the final day of the summit.

As well as bringing people involved in trade with the commonwealth up to speed on issues affecting their businesses, the summit served at least two other purposes: Reassuring shippers that Puerto Rican trade is still important to the Jacksonville Port Authority, and bringing together representatives from the vast array of businesses involved in the trade for networking.

With the Port Authority's recent announcement of a deal with Japanese ship company Mitsui O.S.K. Lines, much has been made of the jobs and revenue that will be created when service between Jacksonville and Asia begins in a few years.

Nevertheless, said Rick Ferrin, executive director of the port, "We don't forget who we came to the dance with."

Some 70 percent of shipments to or from Puerto Rico flow through Jacksonville, providing the financial strength for the Port Authority to look further afield, Ferrin said.

That trade might be threatened by economic issues being dealt with by the commonwealth, which is struggling with a high tax rate, high unemployment and rapidly rising prices: The Puerto Rico Manufacturers Association has projected that economic growth will be below 2 percent in the current fiscal year.

"The woeful state of our economy is not news," said Jaime Gonzalez, senior policy adviser to Rep. Luis Fortuno, the non-voting Puerto Rican member of Congress. "When Puerto Rico sneezes, Jacksonville gets pneumonia. It used to be the other way around."