BP’s investments in Florida top $2 billion

Recently released figures show BP’s continued commitment to the state of Florida. As of June 9, 2011, BP has invested more than $2 billion in Florida to pay for grants, claims, and recovery cost from the Deepwater Horizon oil spill.
Floridians directly impacted by the Deepwater Horizon oil spill have received the biggest portion of the investments. More than $1.8 billion has been paid directly to businesses and individuals both through the BP claim process and the Gulf Coast Claims Facility. To date, the GCCF has processed more than 93 percent of all interim and final claims received.
BP continues to aid Florida tourism and has provided more than $42 million dollars so far for tourism incentives and other tourism related programs. This money has helped state tourism councils promote Florida’s clean beaches. BP has also provided close to $5 million for seafood testing and marketing, the first installment of a $20 million commitment.
Boaters and captains who participated with BP in the Vessels of Opportunity program have received more than $73 million. In addition, more than $80 million has gone to Florida state government to cover response and loss of revenue costs to date.
In addition, BP has supported recovery for families and individuals who suffered from the spill, providing $3 million for behavioral health programs and $300,000 for other social services.
BP will continue to fund scientific research in the Gulf to determine the long-term impacts of the Deepwater Horizon spill. BP established a $500 million research fund immediately after the spill called the Gulf of Mexico Research Initiative (GRI). $10 million from that fund has been given to the University of South Florida Institute Of Oceanography.
BP has provided the State of Florida with $8 million for Natural Resource Damage Assessment or NRDA costs. NRDA is a process in which state and federal government agencies identify the nature and extent of potential injuries to natural resources resulting from an oil spill or hazardous substance release. BP has also provided over $100 million in funding for cooperative studies of potential injuries to natural resources across the Gulf of Mexico.
“BP is working to meet its commitment to complete the response and to economic and environmental restoration,” said Mike Utsler, head of BP’s Gulf Coast Restoration Organization.
For more information on BP investments as June 2011 see the chart below:



http://www.oysterradio.com e-mail manager@oysterradio.com with comments