Port of Tampa Packs Huge Economic Impact According to New Study
June 18, 2013
TAMPA, Fla. / The Tampa Port Authority (TPA) today shared the results of its newly-completed comprehensive economic impact study, before an audience of Port of Tampa customers, elected officials, economic development partners and key stakeholders in the region.
The economic impact study, researched and completed by the firm Martin Associates, reveals some extremely impressive statistics about the influence and economic strength of the state’s largest, most diversified seaport. The study shows a significant boost in economic activity to $15.1 billion, up from the 2006 economic impact study figure of around $8 billion. In the study, over 80,000 direct, indirect, induced and related jobs were supported by the Port of Tampa.Total port-related wages and salaries were calculated at $4.2 billion, while the mean salary for port-dependent jobs came in at $46,300, which is higher than the average for Hillsborough County jobs. See the full study report at www.tampaport.com.
The purpose of the study was to measure the local, regional and state economic impacts generated by maritime activity at the cargo terminals, cruise terminals, and shipyards, as well as non-maritime real estate interests at the port, for the intirety of the 2012 fiscal year. Such impacts for the 2012 fiscal year are estimated in terms of jobs, personal earnings, business revenue and state and local taxes generated. Key variables and aspects within the study include cargo tonnage, labor productivity, labor regulations, cargo mix, vessel size and transportation-related facets. The Port of Tampa handles a full array of cargoes, including dry and liquid bulk, break bulk, heavy lift, and containers. Additionally, the port is the energy products conduit for the West and Central Florida, as well as a global supplier of Florida fertilizer products, and further encompasses a wide spectrum of businesses on its 5,000-acre footprint.
“This impressive economic impact study underscores that the Port of Tampa is Tampa Bay’s economic gateway. We are strong, diverse, and will continue to grow our business and our footprint, providing more economic value and spurring job growth well into the future. Martin Associates, one of the foremost firms in spearheading meaningful economic impact studies, has worked tirelessly to compile the relevant information, and we are extremely proud to share the results with our esteemed community,” Paul Anderson, Tampa Port Authority CEO and port director, said.
The Tampa Port Authority (www.tampaport.com) administers Florida’s largest and one of the nation’s largest and most diversified seaports. The Port of Tampa is the largest economic engine in West and Central Florida. With more than 8 million people within 100 miles, the port serves one of the largest consumer markets in the Southeast U.S., supporting more than 80,000 jobs and greater than $15 billion in annual economic impact.