We provide essential leadership to marine sector businesses by combining the vital market segment and giving a voice that speaks louder than individual entities. A study completed by Thomas J. Murray & Associates, Inc. for the Marine Industries Association of South Florida shows the marine industry has an almost $2 billion annual economic impact in Palm Beach County.
The overall increase in marine related sales in Palm Beach County was 101.2 percent over the period. Taken as a region, the Tri-County marine industry sales grew an estimated 36.3 percent between 2010 and 2014. Statewide, gross marine sales grew by 31.3 percent.
During the most recently completed fiscal year (2014), Palm Beach County reported close to $600,000 in sales.
Combined as a region, the Tri-county area represented 51 percent ($2.383 billion) of Florida's gross marine sales during the 2014 fiscal year. For fiscal year 2014, gross retail sales of boat and motor products equaled $4.675 billion statewide — an increase of 31.3 percent since 2010.
For FY 2014, the overall economic impact of the marine industry for the Tri-county area was as follows: Palm Beach County's marine industry had an estimated impact of $1.883 billion in gross output — an increase of $960 million from 2010, and an associated 18,220 jobs.
The Tri-county marine industry had an estimated economic impact of $11.5 billion in gross output — an increase of $2.6 billion from 2010; including $4 billion in wages and earnings, up from $3 billion in 2010, and an associated 136,000 jobs generated compared to 107,000 in 2010.