Port Tampa Bay, Florida’s largest seaport, has achieved a significant milestone by doubling its economic impact and job creation, according to a newly released report by Martin and Associates.
The port now contributes $34.6 billion to the regional economy and supports more than 192,000 jobs.
“Port Tampa Bay is proud of its role as the largest economic driver in the region,” said Paul Anderson, president and chief executive officer of Port Tampa Bay. “Strategic investments, such as deepening shipping channels and expanding our containerized cargo business, have directly resulted in more jobs and revenue pouring back into the local economy.”
The study, based on 2023 data, highlighted impressive figures:
Economic Value: Of the $34.6 billion contributed by the port, $4.6 billion is in direct business revenue, and $2.8 billion is in re-spending and consumption impacts.
Job Growth: A total of 192,201 jobs are supported, with 16,119 directly generated through port operations. The average maritime-related salary is $74,350, significantly higher than Florida’s average of $55,980.
Cargo and Passengers: In 2023, the port handled 35 million tons of cargo and welcomed over 1.1 million cruise passengers.
Tax Contributions: Activities at the port generated $1.2 billion in state and local taxes, with nearly $500 million coming from direct, induced and indirect impacts.
The port attributes its growth to partnerships with public and private entities, investments in resiliency projects and its central role in Florida’s supply chain, according to a statement from the Port.