According to a recent report released by the Michigan Port Collaborative--an industry partner of the Michigan Boating Industries Association--studies show that a $19.7 billion economic impact was produced by Michigan ports and harbours, $15.4 billion of which was produced by water-based tourism and recreation.
“The impact of [this] industry is often underestimated and seen as ‘seasonal.’ This report is proof our industry is great and is a large contribution to our state and federal economy,’ said MBIA Executive Director Nicki Polan in a recent statement. “We thank the MI Port Collaborative for investing in this important study highlighting the significant impact of Michigan’s ports, tourism, and recreation.”
One key point of the study showcased that the recreational economic impacts are nearly four times the size of commercial economic impacts. This recent study also finds that port and harbour water-based tourism economic activity supports approximately 124,892 full-time equivalent jobs around the state of Michigan. The state, as well as state municipalities, collected an estimated $1 billion in tax revenue from this labour source in 2017, and the federal government received $1.3 billion.
