Report Finds Annual Economic Impact Growth for PortMiami

The Port of Miami as seen from the sea
The Americas Corporate News Ports & Logistics
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PortMiami's annual economic impact has surged to $61.4 billion, up from $41.4 billion in 2016, according to a study conducted by Martin Associates, as noted in a press release.

The study assessed PortMiami's impact in terms of jobs, business revenue, consumer spending, and state and local taxes. PortMiami has contributed $2.2 billion in state and local taxes, with $1.6 billion attributed to port users. Additionally, port activity supports 340,078 jobs, including 29,423 direct local 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.”

Highlights of the 2023 study include:

  • $61.4 billion in total economic activity, which accounts for 3.9 percent of Florida's $1.6 trillion Gross Domestic Product (GDP).
  • $2.2 billion in state and local taxes, with $1.6 billion attributed to port users.
  • 340,078 jobs supported by port activity, including 29,423 direct local jobs.

The economic impact analysis was based on data collected through interviews and telephone surveys with the seaport’s tenants and the companies providing cruise and cargo services at PortMiami. Additionally, a survey of cruise passengers and crew was conducted to develop spending profiles before and after cruises, as well as the spending habits of the 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, director and CEO of PortMiami. “I want to thank all the seaport’s partners for their unrelenting support. Our continued growth and success are a result of strong collaborations.”