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Port Everglades Economic Impact Report Details Significant Influence

Port Everglades
Port Everglades

Published Jun 11, 2024 1:39 PM by The Maritime Executive

[By: Port Everglades]

Port Everglades continues to be a significant contributor to the economy locally, regionally and statewide based on a recently released annual economic impact report. Most notable is the 12% increase in direct local jobs, which has a positive cascading effect for the people and businesses who benefit from the money earned and spent by the workers. 

The port retained Martin Associates to measure its influence in terms of jobs, personal earnings, business revenue, and state and local taxes for the port's Fiscal Year 2023 (Oct. 1, 2022, to Sept. 30, 2023). The results indicate that Port Everglades created:

  • $26.5 Billion in Economic Activity
  • $935,431 Million in State and Local Taxes
  • 10,778 Direct Local Jobs
  • 192,688 Florida Jobs Supported Statewide

"The port has a long history of being a major economic driver for South Florida and this study underscores our financial impact, especially when it comes to the buying power of 10,778 direct local jobs whose spending led to an additional 8,570 induced and 8,215 indirect jobs," said Glenn Wiltshire, Acting Port Director. 

Since the previous economic impact report for Fiscal Year 2022, the port has added new cargo services, increased its operational capacity with three new Super Post-Panamax container gantry cranes, completed its first LNG bunkering for a cruise ship, and is prepared to welcome new-builds from Princess Cruises, Ritz-Carlton Yacht Collection, and Silversea Cruises, and Crystal's shifting from Miami.

"The momentum is strong, and we anticipate continued steady growth in the cruise, energy and cargo sectors that will result in greater gains when the annual economic impact report is updated next year," Wiltshire added. 

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