economic impact
fiscal year 2019 report (PDF 452kb)
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 $32 billion worth of business activity and 219,072 jobs statewide, according to a study produced by nationally recognized maritime research company Martin Associates.
| CATEGORY | CARGO | CRUISE | TOTAL |
| JOBS | |||
| Direct | 7,070 | 5,967 | 13,037 |
| Induced | 5,426 | 3,106 | 8,532 |
| Indirect | 5,613 | 4,157 | 9,770 |
| Related User | 187,734 | N/A | 187,734 |
| Total Jobs | 205,543 | 13,229 | 219,072 |
| PERSONAL INCOME (1,000) | |||
| Direct | $348,101 | $176,890 | $524,991 |
| Induced | $691,468 | $303,668 | $995,136 |
| Indirect | $267,437 | $132,257 | $399,794 |
| Related User | $7,186,022 | N/A | $7,186,022 |
| Total Personal Income | $8,493,028 | $612,915 | $9,105,943 |
| VALUE OF ECONOMIC ACTIVITY (1,000) | |||
| Business Services Revenue | $1,832,706 | $2,019,448 | $3,852,155 |
| Related User Output | $28,353,608 | N/A | $28,353,068 |
| Total Value of Economic Activity | $30,186,314 | $2,019,448 | $32,205,763 |
| LOCAL PURCHASES (1,000) | |||
| Total Value of Local Purchases | $564,721 | $185,593 | $750,314 |
| STATE & LOCAL TAXES (1,000) | |||
| Direct, Induced and Indirect | $132,843 | $68,834 | $201,667 |
| Related User Taxes | $931,431 | N/A | $931,431 |
| Total State and Local Taxes | $1,064,274 | $68,834 | $1,133,107 |
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 2018 with 259 firms providing services to the cargo and vessels handled at Port Everglades’ cargo and cruise terminals. These 259 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 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.
A copy of the full report can be obtained by request to PortEverglades@broward.org.
