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Join date : 2008-10-30
Age : 67
Location : Florida

PostSubject: End of year investment numbers   Fri Jan 07, 2011 12:41 am

End of year investment numbers demonstrate BP’s commitment to Florida

As part of its ongoing commitment to the Florida communities impacted by the Deepwater Horizon oil spill, BP has released total investment figures for the state for 2010. Through the end of December, BP has invested nearly $1.3 billion in Florida to pay for grants, claims and recovery costs from the oil spill.

Floridians directly impacted by the Deepwater Horizon oil spill have received the biggest portion of the investments. More than $1 billion has been paid directly to business and individuals through both the BP claims process and the Gulf Coast Claims Facility.

Boaters and captains who collaborated with BP in the Vessels of Opportunity program received more than $73 million. In addition, more than $66 million has gone to state government to cover response and loss of revenue costs to date.

In 2011, 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). In 2010, BP granted $10 million from that fund to the University of South Florida Institute Of Oceanography.

Florida tourism programs received $32 million from BP in 2010. This investment provided local tourism offices additional resources in order to spread the message of Florida’s clean beaches worldwide. BP has also committed $20 million to the state to pay for seafood testing and marketing.

BP is continuing to explore ways in which it can meet its commitment to Florida.

Read the article here

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