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Economic Impact: Jacksonville

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Jacksonville’s Seaport Generated More Than 24,000 Area Jobs in 2013

Cargo activity at Jacksonville’s seaport positively impacts tens of thousands of jobs and supports nearly $27 billion in annual economic output for the region and state, according to a newly released compilation and analysis of 2013 data.

The study was commissioned by the Jacksonville Port Authority (JAXPORT) and conducted by a well-known maritime research firm.

The 2013 data show that 24,340 people in direct, indirect and induced jobs relying on the port. This figure represents an increase of nearly 10 percent since 2008, a recessionary time period in which overall job figures declined in Duval County.
The direct jobs created by the port paid an average annual salary of $51,600, well above the Jacksonville metropolitan statistical area (MSA) average $38,629 as cited by the Quarterly Census of Employment & Wages.

Direct jobs generated by container activity at JAXPORT grew by 57 percent during that five year period, from 2005 to 2013. Jobs in manufacturing, retail, wholesale and distribution industries supported by cargo activity also grew, to 108,260 from 42,647 in 2008 – growth the researchers attribute to an increase in the port’s container volumes. Port-dependent jobs overall doubled from 65,000 to 132,599.

"Job generation in the private sector is a primary goal of ours," said JAXPORT Chief Executive Officer Brian Taylor. "This updated research reaffirms that as JAXPORT grows its international reputation and as we continue to invest in building a state-of-the-art public seaport, we create significant opportunities for local businesses and individuals to prosper."'

The latest study concludes 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.

It also finds that $727 million in state and local taxes are related to activity through the port. Of that, $169 million in taxes are directly generated by cargo operations, a $40.2 million increase over 2008.

Click here to download the full study and executive summary.
 

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