Initial assessments estimated potential losses at $225 million, with damage including the destruction of 10 of 13 warehouses and significant damage to three port-owned docks. Although much of the port’s losses are insured, the funds will cover uninsured damages and immediate recovery efforts.
State agencies, including the Florida Department of Transportation (FDOT) and the Department of Environmental Protection (DEP), are also assisting with recovery. FDOT will provide experts and labor, while DEP will fast-track permits for reconstruction. The Florida National Guard is supporting perimeter security during repairs.
FDOT Secretary Jared W. Perdue, P.E., noted the huge impact ports have on the state's economy and residents' quality of life, stating that it is critical to ensure SeaPort Manatee is open and fully operational.
According to the news release, every state dollar invested in port infrastructure is expected to generate $7 in state and local taxes. The recovery funds aim to restore SeaPort Manatee to full operation, benefit Florida residents, and strengthen the port's infrastructure against future disasters.