Biscayne Bay Economic Study
Our evaluation found that the activities on Biscayne Bay in 2004 contributed about $12.7 billion in additional county production, $6.3 billion in income to county
residents, 137,600 jobs and $627 million in tax revenue to Miami-Dade County.
In 2004, the South Florida Water Management District selected Hazen and Sawyer (Hazen) to estimate the current and historic economic contribution of Biscayne Bay to the local, regional and State economies. Prior to the completion of this study in 2005, there was very little definitive understanding of the magnitude or extent of the Bay’s economic contribution to the community.
Grace Johns is responsible for economic and financial studies for Hazen.
Hazen and Sawyer evaluated the following uses of Biscayne Bay: Recreational fishing, swimming, boating, sailing and other activities; Commercial Fishing; Shipping operations at the Port of Miami and the Miami River; and Cruise Ship Operations at the Port of Miami.
Hazen and Sawyer estimated the intensity of Biscayne Bay uses and their economic contributions from 1980 to 2004 in terms of the direct, indirect and induced sales, income, employment and tax revenues generated by the uses of the Bay. The study’s results were used to justify investments the protect Biscayne Bay’s environmental and ecosystem qualities. To this end, over 1,400 surveys of the recreational uses and expenditures of residents and visitors in Miami-Dade County, Florida were completed.
Project Outcomes and Benefits
- Overall, the activities on Biscayne Bay in 2004 contributed about $12.7 billion in additional county production, $6.3 billion in income to county residents, 137,600 jobs and $627 million in tax revenue to Miami-Dade County.
- These values represent 10 percent of all income earned in the county, 11 percent of employment in the county and 11 percent of all excise taxes, property taxes, fees, licenses, and sales tax revenues collected in the county.
- Miami-Dade County residents and visitors spent 65.5 million person-days participating in a wide-variety of recreation activities on or at Biscayne Bay in 2004.
- In 2004, the expenditures made to recreate on or at Biscayne Bay generated $3.8 billion in additional county production; provided $2.1 billion in income to county residents, created 57,100 jobs and produced $257 million in tax revenues.
- Biscayne Bay-related recreation contributes to 3.4 percent of Miami-Dade County’s economy.
- In 2002, commercial marine landings related to Biscayne Bay generated $28 million in additional county production, provided $17 million in income to Miami-Dade County res-idents, created 470 jobs and produced $1.8 million in tax revenues to county govern-ments.
Hidden Value of Natural Resources
Hazen and Sawyer estimated the intensity of Biscayne Bay uses and their economic contributions from 1980 to 2004.