PortMiami’s economic impact reaches far beyond South Florida, a recently released study shows.
Port officials tapped Martin Associates, a consulting firm, to conduct an economic impact study as the port undergoes significant improvements and adds more space for cargo and cruise ships. It shows the port is a major income generator and creates more than $1 billion in state and local taxes.
The study focuses on the economic impacts of PortMiami in 2016. It was measured in terms of jobs, personal income, business revenue and other economic indicators. An overview of the main points of the study.
In 2016, PortMiami supported 324,352 total jobs, including 21,897 direct cruise and cargo jobs. Another 8,942 indirect jobs were generated, according to the study, because of the $602.2 million in local purchases made by companies directly dependent on the port.
The 21,897 directly employed workers at PortMiami received $893.7 million in wages in 2016, for an average earnings of $40,814 per employee. The study says an additional $1.6 billion of income and local consumption expenditures or “re-spending impact” were created, the study said. Indirect workers received $317.3 million.
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