Freight News, Sea

SeaPort Manatee pumps $5.1bn into local economy

[ August 16, 2022   //   ]

SeaPort Manatee’s annual economic impact has risen 30% to $5.1 billion compared with two years earlier, while the number of jobs generated by the seaport has grown more than 37%, to 37,287, according to a study report published on 16 August.

The study was conducted by Lancaster, Pennsylvania-based Martin Associates is modelled upon the fiscal year ended 30 September 2021, during which SeaPort Manatee – near Tampa, Florida – broke multiple cargo records, including a 53.3% year-over-year increase in containerized cargo activity.

“The latest impact figures underscore the escalating role SeaPort Manatee is playing in the economic well-being of Manatee County and beyond,” said Reggie Bellamy, chairman of the Manatee County Port Authority. “With continuing increases in seaport activity, the impacts as of today are likely even more impressive.”

SeaPort Manatee reported a gain of 32.2% in containerized cargo tonnage in the first half of its current fiscal year, ended March 31, over the comparable year-earlier six-month period.

The new report puts SeaPort Manatee’s annual economic impact at $5.1 billion compared with $3.93bn in the previous Martin Associates study.

“SeaPort Manatee’s diverse cargo strategy is clearly paying off with significant gains in contributions to regional economic growth,” said Carlos Buqueras, SeaPort Manatee’s executive director. “These remarkable achievements would not be possible without collaborative efforts with the Florida Department of Transportation and the full spectrum of seaport users and stakeholders. And, with ongoing infrastructure enhancements and more than 5,000 acres of incentivized properties extending beyond seaport gates for future development, opportunities abound for further vibrant increases in economic impacts.”