Triumph Gulf Coast

Florida lawmakers wrapped up the 2017 legislative session last week, three days behind schedule. This week, WUWF caught up with some legislators from Northwest Florida to get their impressions, as they wait to see what the governor will do and if they’ll be called back for a special session to deal with medical marijuana regulations.

The Florida House and Senate have unanimously passed legislation that ensures funds from the 2010 Deepwater Horizon/BP oil-spill settlement will remain in Northwest Florida.

Lawmakers approved HB 7077  and the Senate version SB 364, establishing the Gulf Coast Economic Corridor for eight most disproportionately affected counties.

The votes ended months of debate and guaranteed that the bulk of Florida’s $2 billion dollar share of the BP Settlement money would come to the western Panhandle.

Florida Senate

Senate Bill 364, which would ensure funds received in the BP Oil Spill settlement go to the eight hardest-hit counties, has cleared the first hurdle in the Florida Legislature.

The Recovery Fund for the Deepwater Horizon Incident was passed by the Senate Appropriations Subcommittee on Transportation, Tourism, and Economic Development. Its primary sponsor is Sen. George Gainer (R-Panama City).

The 2017 regular session of the Florida Legislature is in its second week. To get an early update, and to discuss some bills and projects of local interest, WUWF called on District 1 Republican Rep. Clay Ingram of Pensacola.

Northwest Florida projects targeted to get money from the Deepwater Horizon settlement would first require the blessings of the Governor and Legislature under a bill proposed by a house committee.

Florida is in line to receive up to $2 billion from BP’s settlement resolving Gulf Coast economic claims arising from the 2010 oil spill. The state received $400 million last year, with $107 million a year on the way from 2019-33.

In this week’s Economic Report, Dr. Rick Harper discusses the Fed’s recent rate hike and projections of three more hikes in the coming year. He also talks about what the hike means for consumers.

In this week’s Economic Report, Dr. Rick Harper discusses an unexpected rise in new home sales, explains why it may be time to reexamine the Consumer Price Index and when BP oil spill relief funds could start funding projects in the area.

Beating expectations, new home sales rose 3.1 percent in September and Harper said that the increase shows conflicting signs in the home sale market.

Michael Spooneybarger/CREO

  The Triumph Gulf Coast board of directors met Wednesday to discuss the next steps it will take to prepare to distribute the $1.5 billion intended to assuage economic damage caused by the 2010 Deepwater Horizon oil spill.

            

The Florida Legislature created Triumph, a five-member advisory board, in 2013 to administer the portion of recovery funds from the BP disaster to the eight Northwest Florida counties most heavily affected by the spill. Those counties are Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin and Wakulla.

            

In this week’s Economic Report, Dr. Rick Harper discusses the next meeting of Triumph Gulf Coast, Inc.  It will be held on Wednesday, October 28, 9 a.m. – noon at the Sandestin Golf and Beach Resort Bayside Ballroom at 160 Sandestin Blvd. N., Miramar Beach, Florida, 32550.

Daniel Mota

As previously reported the Triumph Gulf Coast Inc., Board of Directors Meeting held their first meeting on August 18, 2015 at the Sandestin Golf and Beach Resort in Destin, FL.

Daniel Mota

Triumph Gulf Coast Inc., the nonprofit corporation charged with distributing $1.5 billion in economic damages from the 2010 Deepwater Horizon oil spill, held its inaugural meeting Tuesday. At Sandestin Golf and Beach Resort, where the event was held, the conversation could be summed up with two words: “diversify” and “collaborate.”

"My hope is that these funds will be used to diversify and deepen our economy so that we can be more and more the masters of our own economic fate," Florida state Sen. Don Gaetz, R-Niceville, said at the meeting’s start.  

In this week’s Economic Report, Dr. Rick Harper discusses Triumph Gulf Coast Inc., which will be holding its inaugural meeting Tuesday, Aug. 18 from 9 a.m. to noon at the Sandestin Golf and Beach Resort at 9300 Emerald Coast Parkway West in Destin.

NASA's Marshall Space Flight Center / https://flic.kr/p/7Zja6s

Five Gulf Coast states, Florida, Alabama, Mississippi, Louisiana and Texas, will share $18.7 billion from BP in the largest court settlement in U.S. history. If approved, this would end years of litigation over the 2010 oil spill in the Gulf of Mexico.