From David Volz
Port Everglades generates almost $28.1 billion in economic activity annually, according to a commissioned report for Fiscal Year 2024. In key measures, the port’s economic impact is 6% greater than in the previous fiscal year.
Nationally recognized industry analyst Martin Associates assessed the port’s economic impact for Fiscal Year 2024 (Oct. 1, 2023, to Sept. 30, 2024) in terms of jobs, business revenue, personal earnings, and state and local taxes.
The port’s cargo and cruise sectors support more than 204,300 jobs, which is a 6% increase from Fiscal Year 2023. That includes approximately 12,270 jobs that are directly dependent on the port’s business activity, which is a 13.9% increase over the previous fiscal year.
“The numbers demonstrate that our port’s position as a leading economic engine is well-earned and of great value to Broward County, and Florida’s residents and visitors,” said Joseph Morris, CEO and Port Director of Port Everglades. “As we plan for future growth, we are keenly focused on ways to improve our services to our customers and our contributions to the maritime industry.”
For induced jobs, more than 9,550 positions are generated in the greater Fort Lauderdale area. Approximately 9,430 indirect jobs are supported by the $785.9 million spent locally by companies providing services for the cargo and cruise terminals, as well as businesses that ship and receive cargo.
As a self-supporting enterprise fund of Broward County government, the port does not rely on local tax dollars for operations or capital improvements. It contributes more than $1.1 billion to state and local taxes that are paid by people dependent on the port’s activity.
The port is positioned for growth with a record 4.4 million cruise guests expected by the end of Fiscal Year 2025; major infrastructure projects underway, including the replacement of bulkheads; and an in-progress Master/Vision Plan Update to determine the next series of multi-year investments to guide the port’s development.
