Cargo activity through Jacksonville’s seaport positively impacts tens of thousands of jobs and supports nearly $27 billion in annual economic output for the region and state.
Port of Jacksonville’s Total Annual Economic Impact
A 2014 study, citing significant growth in the port’s impact during the previous five years, was commissioned by JAXPORT and conducted by Martin Associates, a widely recognized maritime research firm.
The study concluded that 24,340 people in the Jacksonville area are employed in port-dependent positions–direct, indirect and induced jobs relying on the port.
The research concluded that direct jobs created by the port pay an average annual salary of $51,600, well above the Jacksonville metropolitan statistical area (MSA) average wage of $38,629 as cited by the Quarterly Census of Employment & Wages.
The number of positions related to cargo activity in the Port of Jacksonville was 108,260, which included jobs within the state’s manufacturing, retail, wholesale and distribution industries.
The overall job figure of 132,599 more than doubled from port economic impact findings released by the same research firm in 2008, when direct, induced, indirect and related jobs totaled 65,000.
The 2014 study concluded that cargo activity in Jacksonville supports $26.9 billion in total economic output, $1.8 billion in personal income and local consumption is generated by area jobs dependent on activity at the port.
In addition, the research found that $727 million in state and local taxes are related to activity through the port. Of that, $169 million in taxes were directly generated by cargo operations.
2014 Economic Impact Study
Full Report: The Economic Impact of the Port of Jacksonville – Aug. 2014
Executive Summary: The Economic Impact of the Port of Jacksonville – Aug. 2014
Presentation: The Economic Impact of the Port of Jacksonville – Aug. 2014
Infographic: The Economic Impact of the Port of Jacksonville – Aug. 2014
Cruise Industry’s Current Economic Impact in Jacksonville
The cruise industry in Jacksonville has created an estimated 460 new jobs and more than $67 million in new annual economic impact for Northeast Florida, according to a 2009 study completed by Martin Associates. These projections are based on the current cruise service commitment to JAXPORT. About 85 percent of this impact is being realized in Duval County, while Nassau, St. Johns and Clay counties also benefit, according to the study.
Passenger and Crew Spending
More than 60 percent of the economic impact from cruise ships comes from passengers, many of whom stay in Jacksonville before or after their cruise. They spend money as tourists at hotels, restaurants, rental car agencies, taxi and car shuttle services, gasoline stations, shopping centers, golf courses and similar attractions. Additionally, each ship has more than 900 crew members, many of whom spend money while in port making purchases at area stores, eating at local restaurants, renting cars, taking taxis, and using area services.
This data was compiled as part of a study conducted by Martin Associates, a widely-recognized expert in the evaluation of economic impacts created by maritime activity. The project lead, Dr. John Martin, has managed hundreds of port planning, market and economic impact studies for ports around the world.