Miami-Dade announces findings from economic study
From David Volz
In collaboration with the South Florida Water Management District, Miami-Dade County announced groundbreaking findings from the 2023 Biscayne Bay Economic Study revealing the combined economic impact of Biscayne Bay-related activities at an astonishing $64 billion in economic output. The 2023 study is an update from the original 2005 study, which had estimated Biscayne Bay’s economic output at $12.8 billion dollars. The impressive, updated figure represents $24 billion in income, supporting 448,000 jobs and contributing $4 billion in tax revenue, proving that the watershed directly influences the county’s economy, making it an essential driver of prosperity, reaffirming that Biscayne Bay is intrinsically linked to Miami-Dade County’s prosperity accounting for 19% of Miami-Dade County’s economy, 9% in the Southeast Florida region, and 3% of the State of Florida’s economy.
The updated study was unveiled at a press event at PortMiami with the participation of Miami-Dade County Mayor Daniella Levine Cava, Miami-Dade County Commissioners Kevin Cabrera and Micky Steinberg who serve on the Biscayne Bay Watershed Management Advisory Board, South Florida Water Management District Vicechair and Biscayne Bay Commissioner Scott Wagner, and Miami-Dade County’s Chief Bay Officer Irela Bague.
“The new study confirms that our beloved Biscayne Bay is one of the most valuable in Florida, supporting many industries, employing hundreds of thousands, and collectively generating billions of dollars in annual revenue,” said Miami-Dade County Mayor Daniella Levine Cava. “Biscayne Bay is the blue heart of our county. Protecting this treasure will not only nurture economic growth but also enhance the well-being of our entire community. It is vital we continue working together to restore it for generations to come.”
“Biscayne Bay is an environmental jewel, an economic powerhouse and a waterbody of enormous significance for millions of Floridians,” said South Florida Water Management District Governing Board Vice-Chairman and Member of the Biscayne Bay Commission Scott Wagner. “Today’s announcement is a testament to the importance of Biscayne Bay, and this study confirms what we have always known…Biscayne Bay creates a stronger and more vibrant Miami-Dade County. I grew up enjoying this unique waterbody and I’m so proud to see our continued progress to further revitalize Biscayne Bay. Under the leadership of Governor Ron DeSantis, our momentum to restore South Florida’s ecosystem is unprecedented, and we are going to continue to expedite projects such as the Biscayne Bay Coastal Wetlands suite of projects, which will build coastal resiliency and improve water quality. Thank you to Miami-Dade County for partnering with us on this important study.”
