Thread: TaxWatch: Foreign visitors, investors bypassing Florida

(and the BS train just keeps rolling......... -- Jaded)

TaxWatch: Foreign visitors, investors bypassing Florida

South Florida Business Journal - 4:28 PM EDT Friday, June 29, 2007

New research estimates that since Sept. 11, 2001, Florida's economy has lost more than $50 billion in spending and investment from foreign visitors and businesses due to overreaching federal immigration and visa policies.

Florida TaxWatch produced the 40-page report.

"Florida's economy is significantly impacted by citizens and businesses from foreign countries," noted John Zumwalt, chairman of the Florida TaxWatch Center for Competitive Florida. "We want to protect our state and country from future terrorist attacks, but we need to do so in a way that also protects our economic security by encouraging and welcoming foreign visitors and foreign dollars."

Zumwalt is also chairman and chief executive officer of Post Buckley Schuh & Jernigan, a Tampa-based engineering firm.

The report called Florida a "global economic powerhouse," due to its geographic closeness to Central and South America, we well as decades of private- and public-sector strategies to increase international trade.

It estimated spending and investment from international visitors and businesses employs 300,000 Floridians and accounts for nearly $92 billion of the goods and services produced in Florida. Of that number, $15 billion goes into the state's tourism industry.

Among the Tallahassee-based taxpayer research institute's estimates for the Florida economy:

foreign direct investment in new facilities or expanding existing facilities fell $34 billion between 2001 and 2006. The report noted most of the foreign direct investment in Florida is in manufacturing, real estate, rental leasing and wholesale trade. "You aren't likely to invest your money in an operation where you aren't allowed to physically visit and see your money in action," explained Tony Villamil, chief executive officer of Coral Gables-based Washington Economics Group and a former U.S. Undersecretary of Commerce.
the state lost $16 million in foreign visitors and tourists, with a direct loss of $14 billion in state revenue. The report noted, traditionally, one of every seven foreign tourist dollars spent in the United States is in Florida. It also pointed out foreign tourists spend nearly twice the amount of money of a domestic tourist. "Tougher visa policies have made it increasingly difficult for tourists, especially from Latin American countries to visit Florida," noted Bud Nocera, president and CEO of Visit Florida, the state's public-private tourism arm. "Others are increasingly turned off by the ill treatment they receive upon arrival by U.S. customs officials. We can and must do better."
the state lost 40,000 international students, worth $1.2 billion, to state and private colleges, community colleges and universities. International students pay the highest chargeable tuition rates in Florida. In 2004-2005, TaxWatch estimated, more than 26,000 of those students spent $625 million on education and living expenses in Florida.
the number of foreign patients seeking health care in Florida would have numbered an additional 9,872, generating almost $374 million more in revenue. The report indicated exclusionary visa policies and practices, including long application and processing times have depressed what was once a thriving, high-value industry. TaxWatch also said the changes have made it more difficult for Florida hospitals and staffing firms to find foreign nurses and other professionals to work in this country for longer than one year.
The research report also noted impacts in Florida's international banking community, where employment fell 35 percent between 2000 and 2005, as TaxWatch said foreign clients steered away from what they viewed as intrusive regulatory requirements.

The report also said security costs at Florida's ports have increased 400 percent to 600 percent under post-Sept. 11, 2001, rules, as clearance time for shipments has increased one to two days.

"During times of national crisis involving our nation's security, our government has historically overcompensated on the side of safety, which is certainly appropriate initially," said Dominic M. Calabro, Florida TaxWatch president and chief executive officer. "Now that almost six years have passed since 9/11, it's certainly appropriate now to review our policies and determine whether the core strengths of our economy are being eroded by those policies that seem to disregard economic consequences.

Victoria Zepp, executive director of the Florida TaxWatch Center for Competitive Florida, acknowledged the visa and immigration policy debate is a national one. Yet, she pointed out, it has huge state repercussions.

"It's emotional and explosive, therefore this report, using data, looks at the impact and cost of current policy on Florida's economy," Zepp said. "Further empirical research is necessary to quantify the total comprehensive cost of U.S. policy on Florida to enable lawmakers to balance our physical and economic security."

http://www.bizjournals.com/southflor...tml?from_rss=1

Did it ever occur to them that the REAL reason is because those tourists and investors don't want to visit or invest in a 3rd world country (otherwise known as Florida)? Ask those tourists that have been mugged, robbed, raped, etc. how they feel about the "Sunshine State".

interesting.. when I saw the title I just assumed that being that Florida is pretty much a third world state, that NOBODY wants to go there. Why would any visitors be going there and why would investors invest there..??

I am also curious as where was this money "before the huge influx of illegals"? If there is a drop off, I might be able to conclude that it IS the illegals that is causing the dropoff.

This is BS,I live in SW Florida and i can assure you it is BOOMING here.Too much.Our roads are clogged and they seem to put up new businesses over night !

Heh heh...Deep enough for waders.

I doubt they thought anyone would look-them-up.

Zumwalt's involved in the construction business aand real estate development...No wonder this article is so biased.

Zumwalt owns a number of Florida-based companies (some are current, some merged or inactive):

ZUMWALT, JOHN B MEASUREMENT SCIENCE, INC. F95000004937
ZUMWALT, JOHN B. HOH ASSOCIATES, INC. J51590
ZUMWALT, JOHN B SEMINOLE DEVELOPMENT II, INC. P05000056131
ZUMWALT, JOHN B PBS&J CONSTRUCTORS, INC. P97000052983
ZUMWALT, JOHN B POST, BUCKLEY INTERNATIONAL, INC. S74344
ZUMWALT, JOHN B III SEMINOLE DEVELOPMENT CORPORATION 282719
ZUMWALT, JOHN B III THE PBSJ CORPORATION 437291
ZUMWALT, JOHN B III THE PBSJ FOUNDATION, INC. N06000001043
ZUMWALT, JOHN B III PBS & J CONSTRUCTION SERVICES, INC. V65082

And the other guy, Dominic Calabro, Florida TaxWatch Pres. and CEO?

CALABRO, DOMINIC FLORIDA EDUCATION FOUNDATION, INC. N08500
CALABRO, DOMINIC JUST THE FACTS, INC. N98000000435
CALABRO, DOMINIC M THE DAVIS PRODUCTIVITY AWARDS FOUNDATION, INC. N01000001105
CALABRO, DOMINIC M THE DAVIS PRODUCTIVITY AWARDS FOUNDATION, INC. N01000001105
CALABRO, DOMINIC M MR. FLORIDA TAXWATCH RESEARCH INSTITUTE, INC. 746199
CALABRO, DOMINIC M MR FLORIDA TAXWATCH RESEARCH INSTITUTE, INC. 746199


The State of Florida is very forthcoming with their State's corporate and small business information. I've used this site often doing SEC research on who the bad-boys are.

http://www.stateofflorida.com/Portal/De ... px?tabid=8

Here's another funny one:

Who Is Florida TaxWatch:
Florida TaxWatch is a private, non-profit, non-partisan research institute that over its 25 year history has become widely recognized as the watchdog of citizens′ hard-earned tax dollars. Our mission is to provide the citizens of Florida and public officials with high quality, independent research and education on government revenues, expenditures, taxation, public policies and programs and to increase the productivity and accountability of Florida Government.
http://www.floridataxwatch.org/aboutus/index.php

Independent research, all right....Sure....