HomeMy WebLinkAboutR-04-0126City of Miami
Legislation
Resolution: R-04-0126
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 04-00204 Final Action Date: 2/26/2004
A RESOLUTION OF THE MIAMI CITY COMMISSION SUPPORTING, IN PRINCIPLE,
THE FLORIDA FREE TRADE AREA OF THE AMERICAS ("FTAA"), INC.'S BID
PROPOSAL TO HOST THE FTAA PERMANENT SECRETARIAT AS ESTABLISHED
IN FTAA.
WHEREAS, the City of Miami is the Gateway to the Americas; and
WHEREAS, Miami stands to gain from the Free Trade Area of the Americas ("FTAA")
process in two fundamental ways: from hosting the FTAA Secretariat, and more broadly,
through the hemispheric liberalization of cross -border trade in goods and services.
Undoubtedly, the FTAA liberalization process would in and of itself provide a strong boost to
our local economy as heavily oriented towards international markets, especially in view of the
pivotal role that our city already performs in overall United States commercial links with Latin
American and Caribbean nations; and
WHEREAS, Florida is the major United States trading partner of every Latin American
country except Mexico; and
WHEREAS, the anticipated economic benefits and prestige of hosting the FTAA
Secretariat in Florida, together with trade liberalization, are very significant; and
WHEREAS, the cumulative benefits to the State of Florida, as estimated in the report
prepared by Enterprise Florida in collaboration with Dr. J. Antonio Villamil in May 2003, are
as follows:
•Jobs: Passage of the FTAA and locating its Secretariat in Florida would result
in an additional 89,259 jobs for Florida's employment base. (These jobs are
created over time due to the direct and indirect impacts of hosting the
Secretariat together with FTAA trade liberalization.)
•Payroll: This increased employment would on average boost Florida's payrolls
by about $3.2 billion each year.
•GSP Growth: Implementation of the FTAA and the presence of its Secretariat in
Miami would add about $13.6 billion annually to Florida's Gross State Product.
•Taxes: This additional economic activity would generate an estimated $157
million annually in fiscal revenues for Florida's state and local governments.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
City of Miami
Page 1 of 2 File Id: 04-00204 (Version: 1) Printed On: 8/30/2016
File Number: 04-00204 Enactment Number: R-04-0126
Section 1. The City Commission endorses either Watson Island or Dinner Key as the
permanent location of the Secretariat of the Free Trade Area of the Americas.
Section 2. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{1}
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall
become effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 04-00204 (Version: 1) Printed On: 8/30/2016