HomeMy WebLinkAboutSubmittal - Laura Reynolds - 2023 Biscayne Bay Study2023 B I S C AY N E B AYubmitted into the public
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ECONOMIC STUDY UPDATE
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RECREATION:
$15.1 BILLION in economic output for
Miami -Dade County
119.8 MILLION amount of days residents
and visitors recreated on Biscayne Bay
• Top activities include boating, fishing,
swimming, and water sports
PORT MIAMI ECONOMIC
CONTRIBUTIONS:
$48.8 BILLION in economic output
113,300
from
Recreation
$8 BILLION the combined
contribution of Biscayne Bay
residential property value in
2021 dollars.
in economic output
to Miami -Dade
County
448,500
Total Jobs from
Biscayne Bay
335,000
Port Shipping and Cruising
COMMERCIAL FISHING:
Top 3 Commercially caught marine
species caught in Biscayne Bay
Spiny Lobster • $2.4 MILLION
Stone Crab • $632,000
Bait Shrimp • $578,000
200
Commercial
Fishing
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2023 BISCAYNE
EC•►•UDY P
Submitted into the •
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$64B
THE ESTIMATED ANNUAL ECONOMIC
CONTRIBUTION OF BISCAYNE BAY IN
MIAMI-DADE COUNTY.
Activities on and around Biscayne Bay accounted for an estimated 19% of
Miami -Dade County's economic output in 2022, while contributing 9% to
the Southeast Florida region and 3% to the State of Florida's economy.
Biscayne Bay in Miami -Dade County, a cherished resource for locals and a draw for tourists,
faces ecological challenges from pollution, stormwater runoff, and aging infrastructure. These
issues harm marine life, deter visitors, and impact local businesses and government revenue.
Preserving Biscayne Bay requires ongoing cooperation among government levels, businesses,
stakeholders, and the public. This study underscores the economic significance of the Bay,
justifying investments and policies to safeguard it, benefiting the community's well-being and
economic vitality.
2004 ECONOMIC CONTRIBUTIONS
(2004 DOLLARS)
$12.7 Billion in Output
($17.2 billion 2022 dollars)
$6.3 Billion in Income
($8.5 billion in 2022 dollars)
137,000 Jobs
$627 million in Tax Revenue to Miami -Dade
County ($845 million in 2022 dollars)
15% of County's Total Output
10% of County's Income
11% of County's Employment
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2022 ECONOMIC CONTRIBUTIONS
(2022 DOLLARS)
$64 Billion in Output
$23 Billion in Income
448,000 Jobs
$4 Billion in Tax Revenue in
Miami -Dade County
19% of the County's Output
13% of the County's Income
24% of the County's Employment
azen To learn more visit miamidade.gov/biscaynebay