The Economic Impact of Port Miami July 19, 2016 | By: DGDtransportPortMiami, long known as “The Cruise Capital of the World”, has more recently served as arguably the largest economic engine in all of Florida. According to Wikipedia, “As of 2011, the Port of Miami accounts for 176,000 jobs and has an annual economic impact in Miami of $18 billion. It is the 11th largest cargo container port in the United States. In 2010, a record 4.33 million passengers traveled through the Port of Miami.” The importance of Port Miami to the greater Miami area is astonishing and cannot be understated. At the beginning of the twentieth century, a hurricane hit South Florida and actually split the southern end of Miami Beach – which consequently created what is now known as Fisher Island. Throughout the next few decades, as the city of Miami grew and there was improved access for shipping, so did the Port of Miami. This growth continued right until April 5, 1960, when the Dade County Board of Commissioners approved construction for the new Port of Miami on Dodge Island. This decision would prove to be a huge bolster to South Florida’s economy. Miami is now home to the 9th largest container port in the U.S., and the largest in Florida. The effects of the port can be measured by the more than 207,000 jobs it has generated here in South Florida. Furthermore, its economic impact has been estimated to contribute $28 billion annually to the local economy.However, it obviously costs a ton of money to maintain keep PortMiami up to date. Plus, given the fact that cruises and cargo are always being innovated to simplify and speed up everyday tasks, the port needs to be updated as well. Therefore, the port needs to be regularly renovated around every 30 years. Furthermore, additional construction is consistently required for maintenance and overall improvement. For example, the Port of Miami Tunnel was completed just a few years ago, This useful tunnel provides direct vehicle access for travelers from the port to the interstate highway system – which allows these vehicles to bypass the awful congestion that can be found here in downtown Miami.In addition, PortMiami recently underwent a renovation that is projected to open up around 30,000 more jobs in the next 10 years. The project, called “PortMiami Deep Dredge Project”, was completed near the end of 2015 and deepened the port from 42 feet to over 50 feet. This was all to allow a line of relatively new Panamax mega-ships to be able to enter and exit the port. Relationships Means Faster Logistics in Port MiamiAs you can see, the Port of Miami has been a godsend for South Florida, because of its positive effect on the entire economy. We have seen first hand how Port Miami has evolved throughout the years, as our headquarters are located just 15 minutes away. Looking forward, Port Miami’s future continues to look bright as plans to develop and keep its place amongst the best ports of the world are prepared and implemented. If you’d like to have a consultation for your business transportation needs through PortMiami just contact us, we are happy to help.