The new 2023 Biscayne Bay Economic Study released by Miami-Dade County and the South Florida Water Management District (SFWMD), highlights the important link between the environment and the economy in Miami-Dade County.
SFWMD Vice Chairman Scott Wagner joined officials from Miami-Dade County including Mayor Daniella Levine Cava and Chief Bay Officer Irela Bague to announce the results of the study. The study underscores the economic significance of the Bay, emphasizes investments and policies to safeguard it, and highlights its importance to the community’s well-being and economic vitality.
Did you know the estimated annual economic contribution of Biscayne Bay in Miami-Dade County is $64 billion? From recreational opportunities, including fishing, swimming, boating and sailing, to commercial fishing, the study provides a comprehensive look at the importance of this unique natural resource.
Under the leadership of Governor Ron DeSantis, our momentum to restore South Florida’s ecosystem is unprecedented, and the SFWMD is committed to continuing to advance large restoration projects such as the Biscayne Bay Coastal Wetlands suite of projects. These projects, coupled with local efforts, will build coastal resiliency and improve water quality.
Highlights from the 2023 Biscayne Bay Economic Study include:
- The overall contributions of Biscayne Bay-related activities amount to a substantial $64 billion in economic output, $24 billion in income, 448,000 jobs, and $4 billion in tax revenue for Miami-Dade County.
- The health of Biscayne Bay is vital for many sectors of Miami-Dade County's economy, which amounts to 19% of Miami-Dade County's economy in 2022 while contributing 9% to the Southeast Florida region and 3% to the State of Florida's economy.
- Biscayne Bay-related recreation contributed significantly to Miami-Dade County's economy in 2022, totaling $15.1 billion in output, $8.2 billion in income, 113,300 jobs, and $2.3 billion in tax revenue.
We encourage you to learn more about the 2023 Biscayne Bay Economic Study and the Bay’s economic impact.