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economic impact

fiscal year 2016 report 

Port Everglades is an economic powerhouse for Broward County. The cruise and cargo industries provide jobs and inject money into our community.

Port Everglades generates more than $29 billion worth of business activity and more than 222,914 jobs statewide, according to a study produced by nationally recognized maritime research company Martin Associates.  

 CATEGORY  CARGO CRUISE   TOTAL
 JOBS      
    Direct  7,036 5,927 12,963
    Induced    5,153 2,912 8,065
    Indirect  5,127 4,217   9,344
    Related User  192,543  N/A  192,543
 Total Jobs    209,585  13,056  222,914
 PERSONAL INCOME (1,000)      
    Direct  $327,968  $174,829  $502,673
    Induced  $644,606  $296,732  $941,338
    Indirect  $218,857  $134,482  $353,340
    Related User  $6,996,399  N/A  $6,996,399
 Total Personal Income  $8,187,705  $606,044  $8,793,748
 VALUE OF ECONOMIC ACTIVITY (1,000)      
    Business Services Revenue  $1,388,271  $1,935,447  $3,323,717
    Related User Output  $26,051,507  N/A  $26,051,507
 Total Value of Economic Activity  $27,439,777  $1,935,447  $29,375,224
 LOCAL PURCHASES (1,000)      
 Total Value of Local Purchases  $468,086  $186,483  $654,569
 STATE & LOCAL TAXES (1,000)      
    Direct, Induced and Indirect  $117,979  $67,473  $185,452
    Related User Taxes  $889,759  N/A  $889,759
Total State and Local Taxes  $1,007,739  $67,473  $1,075,212

 DEFINITIONS 

Direct jobs are those jobs with local firms providing support services to the seaport. These jobs are dependent upon this activity and would suffer immediate dislocation if the seaport activity were to cease. Seaport direct jobs include jobs with railroads and trucking companies moving cargo to and from Port Everglades‟ maritime terminals, members of the International Longshoremen's Association (ILA) and Teamster's Union, steamship agents, BSO, freight forwarders, ship chandlers, warehouse operators, bankers, lawyers, terminal operators, stevedores, etc. Direct employees created by the cruise operations include the jobs with the firms providing the direct vessel services -chandlers, pilots, longshoremen, line handlers, local advertising firms, caterers, liquor wholesalers, linen companies, security firms, waste disposal firms, parking, local transportation -- as well as the firms providing services to the passengers on the vessels -- hotels, taxi cabs, restaurants and tour packages.  Also included are impacts generated at Fort Lauderdale-Hollywood International Airport due to the cruise passengers arriving via air.

Induced jobs are jobs created locally and throughout the regional economy due to purchases of goods and services by those directly employed. These jobs are with grocery stores, the local construction industry, retail stores, health care providers, local transportation services, etc., and would also be discontinued if seaport activity were to cease.

Indirect jobs are those jobs generated in the local economy as the result of local purchases by the firms directly dependent upon seaport activity. These jobs include jobs in local office supply firms, equipment and parts suppliers, maintenance and repair services, etc.

Related user jobs are held throughout the state with manufacturing and wholesale and retail distribution firms using the seaport terminals for the shipment and receipt of cargo. Related jobs are not dependent upon the seaport marine terminals to the same extent as are the direct, induced and indirect jobs. It is the demand for the final products, which creates the demand for the employment with these shippers/consignees, not the use of a particular seaport or maritime terminal, and therefore these firms can and do use other ports.

The employee earnings consist of wages and salaries and include a re-spending effect (local purchases of goods and services by those directly employed), while business revenue consists of total business receipts by firms providing services in support of the seaport activity. State and local taxes include taxes paid by individuals dependent upon the seaport activity.

ABOUT THE REPORT 

This report is based on interviews conducted in 2016 with 296 firms providing services to the cargo and vessels handled at Port Everglades’ cargo and cruise terminals. These 296 firms represent 98+ percent of the firms in the Port Everglades seaport community, underscoring the defensibility of the study. Furthermore, the impacts can be traced back to the individual firm. The data collected from these (FY2015) interviews was then used to develop operational models of the terminals located at Port Everglades. With respect to cruise passenger impacts, Martin Associates used data obtained from an updated cruise passenger survey that was completed in March, 2015 by AECOM. 

For this update, the baseline model has been updated to include FY2015 tonnage, vessel calls, cruise passengers, Port Everglades Department employment, revenue and expenditure statistics in order to estimate the FY2015 impacts.

A copy of the full report can be obtained by request to PortEverglades@broward.org.

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