PortMiami Increases Economic Impact

PortMiami’s economic impact has increased by 48% to US$61.4bn in eight years, according to a study conducted by Martin Associates, which accounts for 4% of the state of Florida’s US$1.6tn Gross Domestic Product (GDP).

The study used the same methodology that was carried out in the 2016 report and measured PortMiami’s impact in terms of jobs, business revenue, consumer spending, and state and local taxes

It was found that the port contributes US$2.2bn in state and local taxes, of which US$1.6bn is attributed to port users, and 340,078 jobs are supported by port activity, including 29,423 direct jobs.

“PortMiami is not only one of Miami-Dade County’s most important economic engines, its economic impact is also felt regionally and globally,” said Miami-Dade County Mayor Daniella Levine Cava. “This report confirms the seaport’s vital role in supporting good-paying local jobs and contributing to the growth of our community, in addition to our commitment to resilience and reducing our carbon footprint with shore power and our net zero plan.”

The economic impact analysis was based on data developed through an extensive interview and telephone survey programme of the seaport’s tenants and firms providing cruise and cargo services at PortMiami. In addition, a survey of cruise passengers and vessel crew was conducted to develop passenger spending profiles pre- and post-cruise, as well as spending characteristics of the vessel crew during each port call at Miami.

“The seaport continues to play a critical role in the economic vitality of our region. We will continue to invest in our infrastructure to ensure that PortMiami remains a world class cruise and cargo port,” said Hydi Webb, PortMiami director and CEO,

PortMiamis partners with three cargo terminal operators – Port of Miami Terminal Operating Company, Seaboard Marine, and South Florida Container Terminal – and 23 cruise line companies.

Source: Container Management Magazine