Port Tampa Bay’s $17.2B Annual Economic Impact
A new economic impact study of 2015 numbers shows that Port Tampa Bay has an annual regional economic impact of $17.2 billion. The study also revealed that the number of jobs the port supports is 85,000 direct, indirect, induced, and related jobs annually.
The study also showed total port-related wages and salaries and local consumption were calculated at $5.1 billion, while the mean salary for port-dependent jobs came in at $55,000, which is higher than the average for jobs within Hillsborough County. Between 2012 and 2015, cargo activity at the port’s public and private marine terminals increased by 3.4 million tons. The overall growth in this tonnage was driven primarily by limestone and phosphatic fertilizers, petroleum products, containerized and break bulk steel products.
The purpose of the study was to measure the local, regional and state economic impacts generated by maritime activity at the cargo terminals, cruise terminals, and shipyards, as well as non-maritime real estate interests at the port, for the entirety of the 2015 fiscal year.
Key port partners echo the excitement over the positive news in the full report. Mosaic is the port’s single largest shipper of bulk cargo. Each year, the Plymouth, Minnesota-based company receives raw materials and ships phosphate fertilizer through the port to destinations across the U.S. and around the world. Mosaic and its predecessor companies have been an integral part of the port for decades.
“Mosaic and Port Tampa Bay have been partners for many years, and phosphate continues to play a significant role in the annual economic impact of the port, said Mark Kaplan, vice president for phosphate services at Mosaic Fertilizer. “We welcome this news and we look forward to continuing our long-standing relationship with the port as they continue to help us deliver on our mission to help the world grow the food it needs.”
On a broader basis, the port’s diversity of cargo is continually strengthened by the port’s large and diverse community of tenants and partners, including Ports America.
“The diversity of Port Tampa Bay’s cargo mix is a key advantage,” said Tom Perdue, president of Ports America Stevedoring. “Ports America is proud to be a partner with the port to support the growth of its container, break bulk, and ro-ro activity.”
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