911 Disaster Events

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9/11 Disaster Events Floridas Economic Impact
Analysis
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• Inquiries began less than a week after the
  disaster concerning the potential impacts.
• Brainstormed with LMI staff on industries likely
  to be directly impacted.
• Met with legislative and Governors Office
  economists (revenue estimators) on likely
  magnitude of employment declines. Since disaster
  was still within one week and airlines were shut
  down, disaster scenarios ranged from 15-25 cuts
  in directly-hit employment sectors.

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• Ran state econometric model to estimate indirect
  impacts on other Florida industries, revenue
  losses and a state revised unemployment rate
  (unemployment rates were forecasted to increase
  from 4.2 to over 6.9).
• To assist Rapid Response, a zip code search of
  Florida companies with offices in the WTC was
  run. Also employers (200) from targeted
  industries were listed for Rapid Response to
  offer reemployment services.

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• The REMI impact model was run to provide more
  information on indirect impacts due to the
  disaster. Divergence between this model and the
  state model caused some adjustments to be made in
  the state model.
• Due to an already slowing economy and now the
  9/11 impacts, significant revenue losses were
  forecast for the state.
• The state econometric model was run again due to
  gains in air traffic and tourism. Losses were
  lowered to the 5 range in employment.

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• A special session of the legislature was called
  to address revenue losses and terrorist security
  issues.
• LMI presentations of industries and occupations
  likely to be negatively impacted were presented
  to the Florida House and Senate in addition to
  other workforce reports on claims and Rapid
  Response.
• Governor filed legislation for economic stimulus
  package. Daily meetings on stimulus package took
  place. LMI was involved in these meetings and
  gave updates on impact estimates.

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• For Workforce Estimating Conference that projects
  and targets high-wage/high-demand occupations,
  new forecasts were provided due to impacts of
  9/11 disaster. Forecasts of jobs still in demand
  were highlighted to target training programs.
  Forecasts for 24 workforce regions were revised.
• New program called Operation Paycheck was
  instituted to help those impacted by 9/11 based
  on LMI estimates.

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• Florida
• Business is our 1 customer

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• LMI for Business
• Plans
• Website for business in FRED, removing
  bureaucratic titles and using FAQs such as
• What information is available to assist business
  in setting local wage rates?
• What information is available to help business
  make location decisions?
• What employment information is available for
  business to review their industry clusters?