BP Investments in Florida Top $1 Billion

By: Gulf Coast Restoration Organization Press Release
By: Gulf Coast Restoration Organization Press Release

As part of its ongoing commitment to the communities impacted by the Deepwater Horizon oil spill, BP has released updated figures on its payments and investments in Florida. Through December 9, BP has invested more than $1 billion in the state to pay for grants, claims and recovery costs from the oil spill.

Claims paid to individuals and businesses take up the biggest portion of the investments – with more than $963 million paid through both the BP claims process and the Gulf Coast Claims Facility.

For oil cleanup and removal, BP has invested more than $65 million. That cleanup work continues, as crews continue to monitor Florida beaches and clean up any oil they find. The vast majority of Florida beaches are clean and oil free. In fact, in November, thousands of beach walkers photographed every mile of Florida’s coastline and posted the photos at www.visitflorida.com so the rest of the world could see the great beach conditions for themselves.

Other investments from BP have had a positive impact on the state, such as the $32 million invested in Florida tourism. That money has been spent on marketing, promotion, and the development of events designed to put “heads in beds”. For example, Pensacola Beach promoters used BP funds to add a third day to their DeLuna festival in October. BP is also investing in the Natural Resource Damage Assessment (NRDA). The NRDA cooperative process is funded mainly by BP and consists of scientists and representatives from the National Oceanic and Atmospheric Association, the United States Department of Interior, as well as representatives from the five affected Gulf States. BP has paid $8 million to NRDA so far, which had its first public hearing in Fort Walton Beach at the end of November. Additional investments include more than $72 million for the Vessels of Opportunity program, $10 million to the Florida Institute of Oceanography, and $3 million to the state for behavioral health.

To view a chart showing a complete breakdown of the investments,
head to http://www.piersystem.com/go/doc/3059/970047/

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