NEW: Economic Impact of Dania Cutoff Canal Dredging October 12, 2015
A new report by Thomas J. Murray and Associates on the economic impact of the dredging of the Dania Cutoff Canal to 17 feet deep, which was completed in 2013, showed that boatyards’ revenues have increased 59 percent since the dredge and the county has received an additional $23.4 million economic benefit.
According to the report, in the year immediately following completion of the $7 million dollar project, Dania boatyards realized a $10.85 million increase in revenues directly attributable to the project. In other words, the project had an impressive 1.5:1 direct benefit to cost ratio in the first year after its completion.
Boatyards there are servicing 54 percent more vessels than they were before the dredge and that an additional $6.6 million in labor income has been generated. And the majority of the yards are reporting wait lists for service, while none reported wait lists in 2013 or other recent years prior to the dredging.
To read the full report, click here.