With Ports Facing Grim Times, Crist Signs Regulation Reform Measure

With Moodys Investor Services reporting today that American ports will continue to face economic challenges for the next 12 to 18 months, Gov. Charlie Crist signed a measure reforming regulation of Floridas 14 seaports today. Other states in the region, including Alabama, Virginia and Georgia, will revamp their ports for the expansion of the Panama Canal that will be complete in 2015.

With this new law, Florida seaports can be more competitive with seaports in other states for new international trade opportunities, especially opportunities that will come from expansion of the Panama Canal, said Rep. Lake Ray, R-Jacksonville, who introduced the bill in the House. This new law is about getting Floridas economy back on track and providing high-wage jobs for Floridians. I am pleased that Gov. Crist has signed this good measure into law.

There is some good news for at least one Sunshine State port -- Moody's gave the Tampa Port Authority's bonds high marks.