May/June 2013 pdf - Port Canaveral

Economic Impact Soars
The community impact from Port activities has grown
dramatically in the past three years. Job creation rose nearly 30
percent. Local purchasing climbed almost 50 percent. Revenue
generated for local businesses escalated by about 75 percent.
“The success of Port Canaveral is the
success of the community,” said Tom
Weinberg, Chairman of the Board of
Commissioners. “As we celebrate 60
years, we continue our commitment
and understand our responsibility as an
efficient, consistent economic engine for
central Florida.”
The growth statistics were revealed in
the 2012 Economic Impact Study of Port
Canaveral by Martin and Associates. The
new study updates the 2009 report and
clearly shows how the Port’s business
expansion has been translated into
powerful growth for the local economy.
Impact-Generating
Activities
The studies measured the local, regional
and state economic impacts generated
from the Port’s cargo and cruise business,
marinas and real estate activity.
Cargo includes petroleum, salt aggregates,
limestone, concentrated juices and other
cargo moving through the Port.
Cruise includes homeported ships,
port-of-calls and daily gaming voyages.
Impacts include those on the local tourist
industry as well as on the region’s airports.
Marina activity includes recreational
boats that are moored at private marinas
on Port-leased land, as well as transient
boating activity at these harbor and
barge canal facilities.
Real estate activity comes from the
offices, restaurants, retail stores, and the
industrial and recreational operations
located on property leased from the Port.
For the 2012 study, 100 percent of the
294 firms engaged in these activities plus
1,100 cruise passengers and ship crew
were interviewed.
17,000 Jobs
Port activity creates four levels of
employment impact. Some jobs are
generated directly by the activities. Most
of these are local and would disappear
if the Port’s facilities were closed.
Direct employment includes truckers,
steamship agents, terminal operators,
stevedores, construction workers, hotel
workers, servers, cab drivers, retail store
clerks, boat mechanics and employees of
tenant businesses.
These directly employed workers spend
their wages locally on goods and services
such as food, housing and clothing,
thereby creating induced jobs throughout
the region and state. Indirect jobs are
created due to purchases of goods and
services by firms rather than individuals.
The total number of direct, induced and
indirect jobs created by Port activity
in 2012 was 16,983, nearly 8,000 of
which were direct jobs. Cargo created
3,381 total jobs; cruise created 11,017;
marinas created 390; and real estate
created 2,195.
The fourth category of jobs is not entirely
dependent upon the seaport, but does
reflect the importance of Port Canaveral
to local firms. These are jobs with firms
using the cargo terminals to ship and
receive cargo.
$808 Million in
Personal Income
Overall, Port activities generated
$807,960,000 in personal earnings
impact, with the greatest impact – $482
million – coming from cruise activity.
This impact is the measure of employee
wages and salaries for direct jobs plus
the portion of these earnings re-spent
within the region and state on goods
and services (the spending that creates
the induced jobs impact).
$2 Billion in
Business Revenue
Businesses providing services at the
Port-owned marine cargo and cruise
terminals and marinas, as well as to real
estate tenants, received nearly $2 billion,
excluding the price of homeported
cruises. Of all the categories of impact,
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May/June 2013 PORT CANAVERAL