You are on page 1of 21

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

"#$%&'()$ *&++,-.
"%/0/+(% 1+2,%'3
/4 '5$
677 68/,-9 :7/-(9,
10'$-%('. ;,33$0<$- =,(7 ;-/>$%'


Piepaieu foi



Nay 2u, 2u14



T: SuS-461-S811 - F: SuS-461-S822 | E: infoweg.com | W: www.weg.com


Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 1

"#$%&'()$ *&++,-.
!"" !$%&'( )"%'*(& +,-'&.*%/0 112 (!!) oi !"" !$%&'( )"%'*(&), a subsiuiaiy of
)"%'*(& 3&0. 2%&0. 4/(50.'*-06 112 ()324), is ueveloping a piivately owneu,
opeiateu anu maintaineu passengei iailway netwoik that will pioviue seivice along
a 2SS-mile iail coiiiuoi between Niami anu 0ilanuo (!"" !$%&'( )"%'*(& 7'%8-9.
oi 7'%8-9.). :;- <&0;*/=.%/ 39%/%>*90 ?'%5,6 4/9@ (<3?) has been ietaineu to
pioviue this compiehensive economic impact analysis of the All Aboaiu Floiiua
Pioject, which encompasses the constiuction of the necessaiy impiovements to
initiate anu opeiate the new passengei iail seivice as well as the constiuction anu
ultimate opeiation of a pioposeu Tiansit-0iienteu Bevelopment (:+A) that will be
cieateu by All Aboaiu Floiiua at anu aiounu the station locations in Niami, Foit
Lauueiuale anu West Palm Beach.

!" #$%&' )*+ ,-)./0/$)1/%*2?

WEu's analysis examines the effects of both the constiuction anu opeiation of
uiffeient components of the Pioject within the vaiious counties wheie the
investments anu impiovements will be maue anu quantifies the oveiall economic
impacts on the State of Floiiua at-laige. In uoing so, this stuuy uetails the uiiect,
inuiiect anu inuuceu activities ielateu to the constiuction anu opeiation of the
Pioject anu its component paits.

WEu is an economic consulting fiim specializing in compiehensive economic
solutions foi businesses, non-piofit institutions anu the public sectoi. WEu is
qualifieu to conuuct this analysis as a iesult of its 2u yeais of expeiience anu
expeitise in economic analysis. The company is leu by Bi. Tony villamil, foimei 0.S.
0nueisecietaiy of Commeice anu Chief Economist, anu has woikeu with a wiue
iange of clients, incluuing financial institutions, multinational companies anu public
entities, such as the State of Floiiua.

3" 4'15%+%.%67?

WEu has employeu piofessionally accepteu anu wiuely utilizeu methouologies to
conuuct its analysis in oiuei to ensuie the valiuity of its finuings. The piimaiy
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 2

iesults of this stuuy weie geneiateu using the INPLAN methouology oiiginally
uevelopeu by the Ninnesota INPLAN uioup Inc. (NIu).

This methouology was applieu to estimate the economic impacts on the Pioject as a
whole, as well as the economic impacts of the following component paits:

B&*"C1*/- 2%/0.'59.*%/: The constiuction of the 2SS-mile inteicity
passengei iail seivice compiising the Pioject, which will extenu fiom a
teiminal station location in uowntown Niami to a teiminal station at the
pioposeu inteimoual facility to be constiucteu at the 0ilanuo Inteinational
Aiipoit. As pait of this Rail-Line Constiuction, AAF will uevelop two
inteimeuiate stations in Foit Lauueiuale anu West Palm Beach. The Rail-
Line Constiuction will occui between 2u14 anu 2u16, uuiing which
substantial investments will be maue in the uesign anu constiuction of iail
impiovements, biiuges, communications infiastiuctuie, suppoit facilities,
tiain stations anu on the puichase of the iolling stock (tiains) neeueu to
begin seivice.

B&*"C1*/- +,-'&.*%/: The opeiation of the Pioject fiom Niami to 0ilanuo,
offeiing houily uepaituies anu 16 iounu tiips pei uay oiiginating at each
teiminal station foi a total of S2 uaily tiips. Rail-Line 0peiations aie
scheuuleu to begin in 2u16, when consiueiable expenuituies will be maue to
opeiate the iail seivice, incluuing the costs of uiiect laboi, fuel costs anu
othei opeiational expenses, such as payments foi equipment maintenance,
insuiance, maintenance of way, lease iights anu taxes.

:+A 2%/0.'59.*%/: The completion of a T0B piogiam compiising millions
of squaie feet acioss the station aieas in Niami-Baue, Biowaiu anu Palm
Beach Counties that will incluue hospitality, iesiuential, office, anu ietail
uses. T0B Constiuction will occui between 2u14 anu 2u2u, uuiing which
time significant investments will be maue to uesign anu constiuct the
piogiam.

:+A +,-'&.*%/0: The opeiation of the T0B ieal estate piogiam in Niami,
Foit Lauueiuale anu West Palm Beach that will biing jobs anu oppoitunities
to those cities anu the suiiounuing neighboihoous. T0B 0peiations aie
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | S

scheuuleu to begin in 2u16, when impoitant outlays will be maue to opeiate
the T0B piogiam, such as the investments in uiiect laboi, as well as costs to
be paiu foi insuiance anu taxes.

The iesults of this stuuy ieflect the economic impacts associateu !"#$%&'( with the
Pioject (those stemming fiom the constiuction anu opeiations activities of the
Pioject itself), ")!"#$%& impacts (those stemming fiom incieaseu goous anu seivices
as a iesult of the implementation of the Pioject) anu ")!*%$! impacts (those
stemming fiom the iesponse by the economy which occuis thiough the ie-spenuing
patteins causing fuithei local economic activity). These iesults aie piesenteu in the
context of each of the vaiious components on an isolateu basis anu aie summaiizeu
on an aggiegateu basis to piesent a complete pictuie of the cumulative effects of the
pioposeu Pioject.

8" #-99):7 %0 ;'7 </*+/*62=

The All Aboaiu Floiiua Pioject is of significant impoitance to the State of Floiiua's
economic uevelopment anu to all iegions thiough which this mouein anu
multimoual mass tianspoitation will tiavel. This is tiue when consiueiing the
impacts of the Pioject, as a whole, as well as the impacts of each of its component
paits.

+D-'&"" 4>,&9.0E As highlighteu in Table ES-1 below, the oveiall impacts of the
Pioject to the State of Floiiua woulu be:

Economic Impact of appioximately $6.4 billion compiiseu of $S.4 billion fiom
Rail-Line Constiuction, $887 million fiom Rail-Line 0peiations, $1.8 billion fiom
T0B Constiuction, anu $284 million fiom T0B 0peiations.

uioss Bomestic Piouuct of almost $S.S billion, with $1.7 billion iealizeu fiom
Rail-Line Constiuction, $62u million fiom Rail-Line 0peiations, $981 million
fiom T0B Constiuction, anu $2u4 million fiom T0B 0peiations.


Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 4

Feueial, State & Local Tax Revenue of $6SS million ueiiveu as the sum of $292
million fiom Rail-Line Constiuction, $126 million fiom Rail-Line 0peiations,
$187 million fiom T0B Constiuction, anu $48 million fiom T0B 0peiations.

:&$"- 3FCG@ F5>>&'H %I 39%/%>*9 4>,&9.0 %I .;- 7'%8-9.6 */9"5(*/=
B&*"C1*/- 2%/0.'59.*%/6 B&*"C1*/- +,-'&.*%/06 :+A 2%/0.'59.*%/ &/( :+A +,-'&.*%/0
*/ .;- JKGLCJKJG :*>-I'&>-

}ob Cieation (Aveiage pei yeai) S,SS9
Laboi Income ($ Nillions) $2,SS1
uioss Bomestic Piouuct ($ Nillions) $S,486
Total Economic Impact ($ Nillions) $6,S7S
Feueial, State & Local Tax Revenue ($ Nillions) $6SS
Souice: The Washington Economics uioup, Inc. (WEu). See uetail in Table 12, page SS.


2%/0.'59.*%/ 4>,&9.0: Economic Impacts to the State of Floiiua uuiing
constiuction phase activity (compiiseu of the Rail-Line Constiuction, which shall
occui between 2u14 anu 2u16, anu the T0B Constiuction, which shall
commence in 2u14 anu pioceeu thiough 2u2u), incluue the following:
1u,4SS constiuction jobs cieateu fiom Rail-Line Constiuction (avg. pei yeai)
acioss the two-yeai constiuction peiiou between 2u14 anu 2u16, piouucing
neaily $1.2 billion in laboi income.

1,69S constiuction jobs cieateu fiom T0B Constiuction (avg. pei yeai) acioss
the constiuction peiiou between 2u14 anu 2u2u, piouucing ovei $6Su million in
laboi income.

$292 million in Feueial, State & Local Tax Revenue fiom Rail-Line Constiuction
anu an auuitional $187 million in tax ievenue fiom T0B Constiuction.

+,-'&.*%/0 4>,&9.0E Economic Impacts to the State of Floiiua uuiing the
opeiational phases of the Pioject (consisting of Rail-Line 0peiations anu T0B
0peiations occuiiing fiom 2u16 thiough 2u21), incluue the following:
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | S

1,6uS jobs cieateu fiom Rail-Line 0peiations (avg. pei yeai) piouucing $442
million in laboi income.

S89 jobs cieateu fiom T0B 0peiations (avg. pei yeai) piouucing $66 million in
laboi income.

$126 million in Feueial, State & Local Tax Revenues fiom Rail-Line 0peiations
anu an auuitional $48 million in tax ievenue fiom T0B 0peiations.

2%5/.HC<*(- 4>,&9.0E In auuition to the foiegoing Economic Impacts of the
Pioject felt acioss the State, Economic Impacts will be iealizeu in each of the
counties wheie constiuction activities occui. These counties will shaie in the
oveiall iesults in a laigei piopoition to othei counties owing to the activities of
constiuction spenuing that aie ielateu to the geogiaphy of the pioposeu Pioject.
Specifically, the scope of the Pioject impacts eight counties thiough which the
Pioject's iail coiiiuoi will tiavel. These counties incluue Niami-Baue, Biowaiu,
Palm Beach, Naitin, Inuian Rivei, St. Lucie, Bievaiu, anu 0iange. Appioximately
$2 billion of Economic Impacts will be spieau acioss these counties. Table ES 2
shows the cumulative annual impacts to be iealizeu between 2u14 anu 2u16 as a
iesult of the Rail-Line Constiuction within these communities.



M*&>*
A&(-
N'%O&'(
7&">
N-&9;
M&'.*/ F.@ 159*-
4/(*&/
B*D-'
N'-D&'( +'&/=-
}ob Cieation* 4S7 488 9S2 464 S98 S92 1,444 1,799
Laboi Income ($ Nil.) $S1.4 $S4.8 $1u7.u $S2.u $44.6 $44.2 $161.8 $2u1.6
uioss Bomestic Piouuct ($ Nil.) $7S.4 $8u.4 $1S6.8 $76.2 $6S.6 $64.8 $2S7.6 $296.2
Total Economic Impact ($ Nil.) $14S.2 $1S2.6 $297.6 $14S.2 $124.2 $12S.u $4S1.6 $S62.4
Feueial, State & Local Tax Revenue ($ Nil.) $14.6 $1S.6 $Su.2 $14.6 $12.6 $12.4 $46.u $S7.4
:&$"- 3FCJ@ 2%5/.H :%.&" 39%/%>*9 4>,&9.0 %I .;- B&*"C1*/- 2%/0.'59.*%/ P>*(CJKGL .% >*(CJKGQ 25>5"&.*D-R
Souice: The Washington Economics uioup, Inc. (WEu). See uetail in Table 2, page 19.
*To avoiu uouble counting net new jobs, the aveiage of all yeais is useu to estimate the numbei of jobs cieateu pei yeai.
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 6

>" ?:%@'$1 3'*'0/12 A%1 #1-+/'+@

Although it is geneially accepteu that tianspoitation piojects, such as All Aboaiu
Floiiua, geneiate impacts in the foim of new anu enhanceu uevelopment activity foi
a iauius of up to V mile fiom station locations, WEu's analysis uoes not incluue the
inciemental impacts of any such T0B activity anu ielateu opeiations foi piojects not
uiiectly pioposeu by All Aboaiu Floiiua.

Fuithei, this iepoit uoes not captuie the impacts of auuitional ietail sales associateu
with ietail opeiations, noi uoes it captuie the impacts of auuitional families moving
into the communities oi the opeiations of offices that move into the T0B facilities.
The Economic Impacts set foith in this stuuy with iespect to the stations covei only
uiiectly-ielateu constiuction anu iail opeiations by All Aboaiu Floiiua at anu about
each station.

This stuuy also excluues analysis of the benefits acciuing to the State anu to the
counties along the Pioject's ioute that extenu beyonu the quantification of economic
impacts, incluuing those ielating to the extensive suppoit to be pioviueu to key
inuustiies of Floiiua (such as tiavel anu hospitality) as the mobility of the laboi
foice is impioveu anu visitois aie attiacteu to enjoy extenueu vacations utilizing the
convenience of the inteicity iail seivice between South anu Cential Floiiua.

Finally, this iepoit uoes not analyze the benefits iealizeu by the State as the Pioject
seives to auuiess Floiiua's neeu to:

alleviate the high anu incieasing tiavel uemanu within the I-9S coiiiuoi that
faces iising congestion with limiteu possibilities foi expansion,

cuitail the impacts of incieaseu tiaffic inciuents that iesult fiom the high
tiaffic volume anu ieuuceu highway capacity, anu

auuiess incieaseu fuel consumption anu gieatei emissions that iesult fiom
giowing automobile usage.

With iegaiu to these issues, it is impoitant to note that inciease in tiavel between
0ilanuo anu Niami as well as the giowth in population in these cities has each
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 7

placeu piessuie on the highways seiving the iegion. Accoiuing to the Texas
Tianspoitation Institute's 2u12 0iban Nobility Repoit, Southeast Floiiua ianks fifth
in all uiban aieas in teims of total tiaffic uelays anu fouith in teims of excess fuel
uemanu, which iesults in millions of houis of tiavel uelay, excessive fuel
consumption anu pollutant emissions. State anu local agencies have been active in
evaluating alteinatives to ielieve the seveie congestion on noith-south ioauway
links anu the neeu foi a solution to ioauway congestion has long been iecognizeu by
many, incluuing the Floiiua Bepaitment of Tianspoitation (FB0T), which ieleaseu
the "#$%&'( )(&# *%$+,-. *#(/0 *$#&-1 2#,3,/.
1
in }une 2uu9 that concluueu, among
othei things, that:
In spite of iecent slowing of giowth uue to a uowntuin in the national anu
state economy, by 2uSu moie than 2S million people will call Floiiua home,
an inciease of ovei SS peicent since 2uu7.. The expecteu giowth in
population ovei the long-teim ieinfoices the value of investing in iail as pait
of a multimoual tianspoitation stiategy to moie efficiently accommouate the
mobility neeus of futuie populations.
2

As pioposeu, the Pioject seives to fulfill the neeu to pioviue alteinate
tianspoitation moues that expanu oveiall iegional capacity. Any such expansion of
capacity that ieuuces the numbei of cais on the State's ioau system benefits Floiiua
in othei ways, incluuing the benefits of the savings that may be iealizeu fiom the
uecieaseu ioauway maintenance iequiieu as a iesult. Fuithei, by ieuucing the
numbei of automobiles on I-9S, the Pioject coulu ieuuce the acciuent iate thus
impioving tiaffic safety. In auuition, by pioviuing an efficient alteinative to
automobile tiavel, passengei iail tiavel will ieuuce the giowth of congestion on
South Floiiua's highways, theieby ieuucing gieenhouse gas emissions in the iegion
because the emission ieuuctions uue to the ueciease in iegional vehicle miles
tiavelleu aie highei than the emissions expecteu as a iesult of the iestoiation of
passengei tiains to the State.

As the foiegoing impacts have not been measuieu -- but aie likely -- the iesults of
this stuuy have an inheient conseivative bias.

4
"#$%&'( 5,6(%.3,/. $7 8%(/96$%.(.&$/: ;<<=: "#$%&'( )(&# *%$+,-. *#(/0 *$#&-1 2#,3,/.: >?(&#(@#, (.
A..60BBCCC:'$.:9.(.,:7#:D9B%(&#B*#(/5,?,#B5$-D3,/.9B;<<=*$#&-12#,3,/.$7.A,)(&#*%$+,-.*#(/EC,@7&/(#:6'7:
;
F':G (. 4EH (/' 4EI:
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 8

B" 8CA8DE#FCA
The analysis peifoimeu by WEu that is summaiizeu in this stuuy uemonstiates that the All
Aboaiu Floiiua Pioject will pioviue:
$6.4 billion in uiiect economic impact to Floiiua's economy ovei the next eight yeais
$S.S billion auueu to Floiiua's uBP thiough 2u21
$2.4 million in laboi income thiough 2u21
$6SS million in Feueial, State, anu Local goveinments tax ievenue thiough 2u21
0vei 1u,uuu jobs on aveiage pei yeai thiough the two-yeai Rail-Line Constiuction
peiiou between 2u14 anu 2u16
0vei S,uuu jobs on aveiage pei yeai aftei the Rail-Line Constiuction is completeu
thiough 2u21

In light of the foiegoing, this iepoit shows that the constiuction anu opeiation of the
pioposeu All Aboaiu Floiiua Pioject woulu geneiate substantial economic anu fiscal
benefits in the State of Floiiua anu in the counties thiough which the Pioject will tiavel.
The authois of this iepoit will be available upon iequest to auuiess any questions
iegaiuing its contents oi the methouology useu in this analysis.
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject



A$4(0('(/03 /4 "%/0/+(% B$-+3 C3$9 (0 '5$ 60,7.3(3
:-'> A-I*/*.*%/
+,-'.(,$)& Total of full-time oi pait-time jobs.
012.# 3)%.,$
All foims of employment income, incluuing Employee
Compensation (wages anu benefits) anu Piopiietoi Income.
4#.55 6.,$5&"% 7#.!*%& 84679 The incieaseu value of a piouuct as a iesult of the economic
inputs (laboi anu capital) expenueu at a given stage. In the
INPLAN Nouel, uBP is the sum of: Employee Compensation,
Piopiietoi Income, 0thei Piopeity Type Income (Inteiest) anu
Inuiiect Business Taxes.
+%.).,"% 3,-1%& Total value of all tiansactions attiibuteu to an activity.
:"5%1' 3,-1%& Total tax ievenue attiibuteu to an activity, at the local, state anu
feueial ievenue.
6"#$%& +;;$%&5 The set of expenuituies applieu to the pieuictive mouel (i.e., I0
multiplieis) foi impact analysis. It is a seiies (oi single) of
piouuction changes oi expenuituies maue by
piouuceisconsumeis as a iesult of an activity oi policy. These
initial changes aie ueteimineu by an analyst to be a iesult of this
activity oi policy. Applying these initial changes to the multiplieis
in an INPLAN mouel will then uisplay how the iegion will
iesponu, economically to these initial changes.
3)!"#$%& +;;$%&5 The impact of local inuustiies buying goous anu seivices fiom
othei local inuustiies. The cycle of spenuing woiks its way
backwaiu thiough the supply chain until all money leaks fiom
the local economy, eithei thiough impoits oi by payments to
value auueu. The impacts aie calculateu by applying Biiect
Effects to the Type I Nultiplieis.
3)!*%$! +;;$%&5 The iesponse by an economy to an initial change (uiiect effect)
that occuis thiough ie-spenuing of income ieceiveu by a
component of value auueu. INPLAN's uefault multipliei
iecognizes that laboi income (employee compensation anu
piopiietoi income components of value auueu) is not a leakage
to the iegional economy. This money is ie-ciiculateu thiough the
householu spenuing patteins causing fuithei local economic
activity.

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject


The Washington Economics uioup, Inc. (WEu). Page 1u
B5$ D,35(0<'/0 "%/0/+(%3 E-/&2F 10%?
;-/>$%' B$,+ ,09 G&,7(4(%,'(/03
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject


The Washington Economics uioup, Inc. (WEu). Page 11









S@ !/.%/*% T*""&>*"
Founuei anu Piincipal Auvisoi

Tony villamil is a nationally iecognizeu economist, with ovei thiity-five yeais of successful
caieei as a business economist, univeisity euucatoi anu high-level policymakei foi both
feueial anu state goveinments. Be was appointeu by Piesiuent ueoige B. W. Bush as 0S
0nueisecietaiy of Commeice foi Economic Affaiis, ieceiving full 0S Senate confiimation of
the Piesiuential appointment. Tony is the Founuei anu Piincipal of a successful economic
consulting piactice, The Washington Economics uioup, Inc. (WEu), a Floiiua-baseu fiim
establisheu in 199S upon his ietuin to the State fiom his public seivice in Washington, B.C.
Bi. villamil is the immeuiate past Chaiiman of the uoveinoi's Council of Economic Auvisois
of Floiiua, anu uuiing 1999-2uuu, he was selecteu by uoveinoi Bush as his fiist Biiectoi foi
Touiism, Tiaue anu Economic Bevelopment. Piesently, he is on the Boaiu of Biiectois of
the Spanish Bioaucasting System (SBS), Neicantil Commeicebank, NA, anu Pan-Ameiican
Life Insuiance uioup (PALIu). Be was most iecently appointeu by the 0S Secietaiy of
Commeice to seive in the Floiiua Bistiict Expoit Council.
Among othei piofessional anu civic leaueiship positions, Tony was selecteu in 2uu8 as the
founuing Bean of the School of Business of St. Thomas 0niveisity, seiving successfully until
Becembei S1
st
, 2u1S at which time he iesigneu to ietuin full time to his giowing economic
consulting piactice. Be is cuiiently Chaiiman of the Economic Rounutable of the Beacon
CouncilNiami-Baue County's official economic uevelopment oiganization. Bi. villamil is
also Senioi Reseaich Fellow of Floiiua TaxWatch, an establisheu fiscal anu policy ieseaich
oiganization of the State.
Tony eaineu bacheloi anu mastei uegiees in Economics fiom Louisiana State 0niveisity
(LS0), wheie he also completeu couisewoik foi the PhB uegiee. In 1991, Floiiua
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu) Page | 12

Inteinational 0niveisity (FI0) awaiueu him a uoctoial uegiee in Economics (hc), foi
"uistinguisheu contiibutions to the Nation in the fielu of economics." Be fiequently speaks
to business, goveinment anu univeisity auuiences on economic topics.
Bi. villamil is iesiuent of Coial uables, Floiiua, wheie he lives with his family, tiaveling
fiequently thioughout Floiiua, the 0S anu globally to conuuct ieseaich anu piesentations
foi clients of the Washington Economics uioup.
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject


The Washington Economics uioup, Inc. (WEu). Page 1S










2UB4F:+7U3B +A 13<4F6 7U@A@
Associate Consultant foi Economics

Rou Lewis is the vice Piesiuent foi Stiategic Initiatives at Woikfoice Floiiua. Be ieceiveu
his Ph.B. in political science with a uoctoial minoi in methouseconometiics fiom Floiiua
State 0niveisity (FS0) in 2uu6. Pieviously, Bi. Lewis seiveu as the Biiectoi of the Baas
Centei foi Business Reseaich anu Economic Bevelopment at the 0niveisity of West Floiiua.
Be has also seiveu as Biiectoi of Reseaich foi Kile Consulting, a Tallahassee-baseu fiim, as
Leioy Collins fellow in the Bepaitment of Political Science anu successively as a fellow in
the Inteiuisciplinaiy Social Sciences uuiing his giauuate caieei at FS0.
Befoie ietuining to leau the Baas Centei he was Piesiuent of Biscovei Analytics, Inc. Be has
paiticipateu in numeious local, iegional anu state-wiue piojects incluuing inuustiy clustei
analyses, woikfoice competency stuuies, anu economic impact analyses. Be maintains an
active ieseaich agenua in his home uiscipline of political science anu ioutinely collaboiates
with colleagues on expeiimental anu empiiical ieseaich in political psychology, political
behavioi anu iepiesentation.

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu). Page 14











T3B4:V )4W2U
Nanagei of Client Seivices
veiity Finch is the Nanagei of Client Seivices at The Washington Economics uioup, Inc. (WEu).
She seives as WEu's client liaison, woiking with clients to facilitate theii business inteiests anu
achieve theii goals thiough exclusive economics anu maiket ieseaich auvisoi seivices.
veiity began hei caieei in Englanu as a uata analyst at Equity Insuiance uioup, an inteinational
specialist motoi insuiei. Nost iecently, she seiveu as Assistant foi maiketing anu ieseaich to }.
Antonio villamil in his foimei iole as Bean at St. Thomas 0niveisity, School of Business. In hei
iole in the Bean's 0ffice at St. Thomas 0niveisity, veiity seiveu as the cooiuinatoi of the
Business Executives Auvisoiy Council, manageu the successful Entiepieneuiship Week
Piogiam in liaison with executives anu faculty, anu conuucteu numeious ieseaich anu
maiketing assignments.
veiity is iecognizeu foi hei leaueiship, seiving as Piesiuent of the Business Club of St. Thomas
0niveisity anu as a speakei on business anu women caieei issues.
veiity ieceiveu hei Nastei of Business Auministiation (NBA) uegiee fiom St. Thomas
0niveisity in Niami, anu holus a fiist-class Law Begiee (LLB) fiom Anglia Ruskin 0niveisity,
School of Law, in Englanu.






Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu). Page 1S














U!VA33 M@ 2!BB4+W
Executive anu Senioi Reseaich Assistant


Bayuee N. Caiiion is Executive anu Senioi Reseaich Assistant at The Washington Economics
uioup, anu has been Executive Assistant to Bi. villamil since the fiim's founuing in 199S. She
has senioi level expeitise in multi-meuia piesentations anu in the piepaiation anu uesign of
complex iepoits anu uocuments foi clients, utilizing the latest technologies
In 2u12, WEu piomoteu hei to Senioi anu Pioject Reseaich Assistant to the fiim, given
outstanuing peifoimance in web-baseu ieseaich anu in assistance to the fiim's Piincipal in the
piepaiation of auuio-visual piesentations foi clients anu in uesktop publishing. Ns. Caiiion is
fluent in Spanish, with expeiience in the piepaiation of economics anu business uocuments in
the language.
Ns. Caiiion has been with WEu foi 19 yeais. Ns. Caiiion holus uegiees in Business
Auministiation anu 0ffice System Technologies fiom Niami-Baue College.




Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu). Page 16

:;- <&0;*/=.%/ 39%/%>*90 ?'%5,6 4/9@ P<3?R has been successfully meeting client
objectives since 199S thiough economic consulting seivices foi coipoiations, institutions anu
goveinments of the Ameiicas. We have the expeitise, high-level contacts, anu business alliances
to stiengthen youi competitive positioning in the giowing maiketplaces of Floiiua anu Latin
Ameiica.
0ui iostei of satisfieu clients, ovei the past 2u yeais, incluues multinational coipoiations,
financial institutions, public entities, anu non-piofit associations expanuing theii opeiations in
the Ameiicas.

3X21YF4T3 2+WFY1:4W? !77B+!2U
Each client is unique to us. We spenu consiueiable time anu effoit in unueistanuing the
opeiations, goals, anu objectives of clients as they seek oui consulting anu stiategic auvice. We
aie not a mass-piouuction consulting entity noi uo we accept eveiy pioject that comes to us.
We engage a limiteu numbei of clients each yeai that iequiie customizeu consulting seivices in
oui piemiei aieas of specialization. These piemiei anu exclusive seivices aie heaueu by foimei
0.S. 0nuei Secietaiy of Commeice, Bi. }. Antonio villamil, with ovei thiity-five yeais of
expeiience as a business executive anu as a senioi public official of the 0.S. anu most iecently of
Floiiua.
7B3M43B 2+WFY1:4W? F3BT423F
J$36%,A,/9&?, J$%6$%(., 2K6(/9&$/ L,%?&-,9: 0ui seamless anu customizeu seivice incluues site
selection analysis, uevelopment of incentive stiategies anu community anu goveinmental
ielations.
2-$/$3&- F36(-. L.D'&,9 highlight the impoitance of a client's activities in the geneiation of
income, output anu employment in the maiket aiea seiviceu by the entity. These stuuies aie
also utilizeu to analyze the impact of public policies on key factois that may affect a client's
activities such as tax changes, zoning, enviionmental peimits anu otheis.
L.%(.,M&- ND9&/,99 5,?,#$63,/. L,%?&-,9. These seivices aie customizeu to meet client
objectives, with paiticulai emphasis in the giowing maiketplaces of Floiiua, Nexico, Cential
anu South Ameiica. Recent consulting assignments incluue customizeu maiketing stiategies,
countiy iisk assessments foi investment uecisions anu coipoiate spokespeison activities anu
speeches on behalf of the client at public oi piivate meetings.

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu). Page 17




)%' & I5"" (-09'*,.*%/ %I <3? 9&,&$*"*.*-0
&/( 0-'D*9-06 ,"-&0- D*0*. %5' O-$0*.- &.E
OOO@O-=@9%>
Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject


The Washington Economics uioup, Inc. (WEu). Page 18

:;- <&0;*/=.%/ 39%/%>*90 ?'%5,6 4/9@
B-,'-0-/.&.*D- 2"*-/. 1*0. GZZ[CJKGL
M5".*/&.*%/&" 2%',%'&.*%/0
Ameiitech Inteinational
Buieau veiitas (BIvAC)
Caiiiei
Esso Intei-Ameiica
FeuEx Latin Ameiica
uenting uioup
Byatt
IBN
}oseph E. Seagiam & Sons, Inc. (vivenui)
KPNu
Lockheeu Naitin
Lucent Technologies
NasteiCaiu Inteinational
Neuia0neAT&T
Neutionic
Neick Latin Ameiica
Niciosoft Latin Ameiica
Notoiola
Phelps Bouge
SBC Communications
Telefonica Bata Systems
visa Inteinational

2%/0.'59.*%/ &/( B-&" 30.&.- A-D-"%,>-/. )*'>0
Aieas 0SA, Inc.
Baiion Colliei Companies
Beikowitz Bevelopment uioup
Boca Bevelopeis
CBS Inteinational
Centuiy Bomebuilueis
Couina Realty
Empiie Woilu Toweis, LLC
Feiio Investment uioup, LLC
Flaglei Bevelopment
Floiiua East Coast Realty Inc.
Inlanu Poit Systems, LLC

Lanustai Bevelopment
LXR Luxuiy Resoits
Niami Asset Nanagement Company, Inc.
Niapolis, LLC
0uebiecht Constiuction, Inc.
Palazzo Las 0las uioup, LLC
The Allen Noiiis Company
The Relateu uioup, Inc.
The Rouse Company
The St. }oe Company
Tiammel Ciow Company
WCI Bevelopment Companies
3/=*/--'*/=6 7"&//*/= &/( A-0*=/ )*'>0
AEC0N (BN}N Baiiis)
Atkins (PBS})
CBN Smith (Wilbui Smith Associates)
uoluei Associates
Kimley-Boin anu Associates
Paisons Biincheihoff

2%""-=- &/( Y/*D-'0*.*-0
Alabama State 0niveisity
Baiiy 0niveisity
Embiy-Riuule Aeionautical 0niveisity
Floiiua Agiicultuial & Nechanical 0niveisity
Floiiua Inteinational 0niveisity
Full Sail 0niveisity
Keisei 0niveisity
Los Angeles Film School
Niami-Baue College
Rocky Nountain College of Ait anu Besign
Sistema 0niveisitaiio Ana u. Nnuez
St. Thomas 0niveisity
0niveisiuau Politcnica ue Pueito Rico
0niveisity of Floiiua
0niveisity of Niami
0N's Rosenstiel School of Naiine anu Atmospheiic Science
0niveisity of South Floiiua2OP>J2
1&O )*'>0
Beckei & Poliakoff
Cailton Fielus
Colson Bicks Eiuson
BLA Pipei
Bunbai & Bunbai
uloiia Roa Bouin, Esq.
uieenbeig Tiauiig, LLP
Bollanu & Knight, LLP
Steel Bectoi & Bavis
Tew Caiuenas, LLP

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject

The Washington Economics uioup, Inc. (WEu). Page 19

)*/&/9*&" 4/0.*.5.*%/0
ABN-ANR0 Bank
Auvantage Capital
Allen & Company
BNP Paiibas
Bank Atlantic Coip.
Bank0niteu, FSB
Banque Nationale ue Paiis
Baiclays Bank
ES} Capital Paitneis
Espiiito Santo Bank
Fiuuciaiy Tiust Inteinational
Fiist 0nion National Bank (Wells Faigo)
Bemispheie National Bank
BSBCNaiine Niulanu
Inteinational Bank of Niami (Fiist 0niteu Bank)
Lazaiu Fieies & Co.
Neicantil Commeicebank N.A.
Pan Ameiican Life Insuiance uioup
PointeBank, N.A.
Seitlin Insuiance
Sun Tiust Coipoiation
The EquitableAXA Auvisois
0nion Planteis Bank of Floiiua (Regions)

Economic Impacts of the All Aboaiu Floiiua Inteicity Passengei Rail Pioject


The Washington Economics uioup, Inc. (WEu). Page 2u

)"%'*(&CN&0-( 2%>,&/*-0
AmeiicanAiilines Aiena
BNI Companies
Communikatz
Baytona Inteinational Speeuway
Bosal Tobacco
Faim Stoies
Fishkinu & Associates
Floiiua Bospital
Floiiua Nailins
Floiiua Powei & Light
Flo-Sun Sugai Coip.
uieatei Niami Convention & visitois Buieau
uieatei Foit Lauueiuale Alliance
Bomesteau Niami Speeuway
Ibeiia Tiles
Inteinational Speeuway Coipoiation
}ungle Islanu
Neicy Bospital
Niami Bolphins
Resoits Woilu Niami (RWN)
Ron Sachs Communications
Spiint of Floiiua
Technology Founuation of the Ameiicas
The Biltmoie Botel
The Beat uioup
0ltia Nusical Festival

W%/C)"%'*(&CN&0-( 4/0.*.5.*%/0
Bailington Raceway
ueoigia Retail Feueiation
Illinois Retail Neichant Association
Inuiana Retail Council
Kansas Speeuway
Naitinsville Speeuway
Piogiess Eneigy
Richmonu Inteinational Raceway
Tallauega Supeispeeuway
Washington Retail Association
Watkins ulen Inteinational

75$"*9 4/0.*.5.*%/0 &/( W%/C7'%I*. +'=&/*\&.*%/0
Baptist Bealth South Floiiua
Citizens of Clean Eneigy
City of Plantation
City of West Palm Beach
Economic Bevelopment Commission of Colliei County
Economic Bevelopment Commission of Lee County
Economic Bevelopment Commission of Niu-Floiiua
Enteipiise Floiiua, Inc.
Faim Shaie, Inc.
Flaglei Bevelopment
Floiiua Bankeis Association
Floiiua Citius Nutual
Floiiua Inteinational Bankeis Association
Floiiua League of Cities
Floiiua Nuising Bomes Alliance
Floiiua 0utuooi Auveitising Association
Floiiua Poits Council
Floiiua Retail Association
Floiiua Spoits Founuation
Fiienus of Niami Naiine Stauium
Inuepenuent Colleges anu 0niveisities of Floiiua (IC0F)
Intei-Ameiican Bevelopment Bank

}ackson Bealth Systems
}acksonville Chambei of Commeice
Louisiana Committee foi Economic Bevelopment
Miami Marine Stadium
Miami Museum of Science
Miami-Dade County Public Schools
Miami-Dade Expressway Authority
Miami Downtown Development Authority
Port of Miami
SEUI Healthcare Florida
Space Florida
State of Florida
SW Florida Regional Chamber of Commerce
Sylvester Comprehensive Cancer Center
Tampa-Hillsborough Expressway Authority
The Beacon Council
The Florida Bar
The Florida Chamber Foundation
United Nations Economic Development Program
United Teachers of Dade
Visit Florida
Zoological Society of Florida
1&.*/ !>-'*9&CN&0-( 4/0.*.5.*%/0
Allieu-Bomecq, Nexico
Association of Peiuvian Banks
Feueiation of Intei-Ameiican Financial Institutions (FIBAFIN)
Fonalleuas Enteipiises, Pueito Rico
Q,%-(/.&# L,%?&-&$9 "&/(/-&,%$9, venezuela
Peiuvian Nanagement Institute (IPAE)
The Biunetta uioup of Aigentina