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JAXPORT’s Economic Impact Continues to Grow

August 12th, 2019 · Leave a Comment

Cargo activity through Jacksonville’s seaport positively impacts tens of thousands of jobs and supports nearly $31.1 billion in annual economic output for the region and state, according to a newly released study.

The study, citing double-digit growth in the port’s total economic impact over the last five years, was conducted by Martin Associates, a widely recognized maritime research firm.

In the Jacksonville area, the study concludes that 26,282 people are employed in port-dependent positions—direct, indirect and induced jobs relying on the port. This figure represents a nearly 8 percent increase over a previous study conducted in 2013. The port’s total economic value of $31.1 billion has also increased 15 percent during this time. In addition, the study finds that 138,500 jobs across the state of Florida are related to cargo moving through Jacksonville’s port.

Port-dependent jobs pay an average annual salary of $70,570, well above the state of Florida average salary for all occupations of $46,010.

JAXPORT’s Asian container trade is a primary driver of the port’s containerized cargo growth, up 89 percent since 2013. JAXPORT offers competitive transit times to destinations in Asia including China, Japan, South Korea, Vietnam, Thailand and more.

The report also finds that every 1,000 vehicles that move through the port supports 1.6 direct local jobs. JAXPORT is the nation’s second largest vehicle-handling port, moving more than 665,000 units last year.

The study concludes that in 2018, cargo activity at Jacksonville’s seaport generated $2.6 billion in business revenue, including $767.4 million in direct wages, $634.6 million in business purchases and $247.1 million in state and local taxes.

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