Study: Port Everglades economic impact runs deep
A newly released study on Port Everglades' impact on the local economy said the port generates $17 billion a year in overall business activity, with links to some 188,000 jobs statewide.
Port Everglades Director Phillip C. Allen cited the study Friday at the VisionBROWARD International Business Symposium, noting the port does more than provide a gateway for cargo and accommodate waves of cruise passengers.
'People may think of Port Everglades as a cruise port or a place where their food, clothing, gasoline and wide-screen televisions come in from foreign countries,' he said. 'But they may be surprised to learn that their neighbors work here and their businesses depend on the goods and services that support companies at the port.'
The study was conducted by Lancaster, Pa.-based Martin Associates, which has completed economic impact studies at more than 250 seaports and airports in the United States and Canada. It has also done an in-depth study for the American Association of Port Authorities on the national impact of ports, and plans to do a statewide Florida ports study for the Florida Ports Council.
The study was based on cargo and cruise statistics from the fiscal year ended Sept. 30, 2006, plus interviews with 235 companies that represent 99 percent of the business at Port Everglades.
It showed that the port supports 11,000 direct jobs that produce $394 million in personal income, providing an average annual income of $35,910.
Statewide, the port supports 188,000 jobs with a personal income totaling $6.4 billion, according to the study. About 160,000 of those jobs are tied to manufacturing or distribution companies for consumer products.
Local businesses receive an estimated $2 billion a year in revenues for providing services to cruise and cargo businesses operating from the port, the study said. Statewide, the port generated another $14.8 billion for exporters and importers located throughout the state. Most of that came from containerized cargo distributed throughout Florida.
The study also noted Port Everglades-related cargo and cruise activities generate nearly $590 million in state and local tax revenue.