Study Shows Strong Growth in Marine Industry Economic Impact

A new study on the economic impact of the marine industry in South Florida has been completed and indicates steady growth in major categories like total economic output, marine-related sales, and job numbers since 2014, when the study was last released.

Phil Purcell, CEO/president of the Marine Industries Association of South Florida (MIASF), presented the results at a member business luncheon hosted by MIASF on January 16 in Miami. The study was produced by Tom J. Murray & Associates Inc. for MIASF and the Greater Fort Lauderdale Alliance.

Regionally, the marine industry economic output increased from $11.5 billion to $12 billion and marine sales of $2.979 billion represented more than 44 percent of the state’s total. Additionally, regional job numbers increased by nearly 6,000 for a total of 141,788. In Miami alone, marine-related sales increased by 124 percent.

“With outdoor recreation comprising 2 percent of the U.S. GDP, and recreational fishing and boating representing half of that, it’s evident that we need to continue to protect and support our working waterfront, while subsequently offering a meaningful career path for skilled trade professionals,” Purcell said.

For additional information, an executive summary of the Economic Impact of the Recreational Marine Industry in Broward, Miami-Dade, and Palm Beach Counties can be accessed at www.miasf.org/about/library/.