Other key findings of the 2013 study Access the complete study here.

Transcription

1 Progressive Insurance Miami International Boat Show Announces $597 Million Economic Impact NMMA Show is big business for Florida and recreational boating industry MIAMI December 12, 2013 The 2013 Progressive Insurance Miami International Boat Show generated an economic output of $597 million in Florida as a result of out-ofstate purchases and expenditures at the show and supported 6,592 full-time jobs, according to an economic impact analysis released today by the National Marine Manufacturers Association (NMMA). The 2013 Miami International Boat Show took place Feb , attracting 102,118 visitors from around the world. This is the first study of its kind in nearly a decade. Prepared by Thomas J. Murray & Associates, Inc., the study assessed the economic impact of the annual five-day event on Miami-Dade, Broward, and Palm Beach counties, as well as the state of Florida. Total estimated sales by Florida companies during the 2013 Miami International Boat Show reached $312.2 million, and total excise and sales tax generated within Florida as a result of the show was $30.4 million. The results of the new study illustrate the show s significant impact not only on South Florida s local economy but to the entire state and recreational boating industry, said Cathy Rick-Joule, show manager and vice president, NMMA. The Progressive Insurance Miami International Boat Show continues to be a mainstay for dealers and manufacturers, which enables them to showcase their products before an international audience of serious buyers. It is one of the world s premier boating events a barometer for annual boat sales, a gathering of the newest and best products in recreational boating, and boost to our economy.

2 Other key findings of the 2013 study Access the complete study here. Statewide in Florida, labor income impacts of $216.6 million were associated with the economic activity stemming from the boat show. 35% of boat show visitors were from outside of Florida. The average expenditure by out-of-town visitors (hotels, restaurants, retail spending, local transportation, etc.) at the show was $ per day; while foreign attendees expended $ per day. Such visitor expenditures totaled an estimated $63.6 million. 33% of exhibitors were Dade, Broward or Palm Beach county companies. 35% of exhibitors were from outside of Florida. Exhibitors expended $18.9 million on local goods and services, such as hotels, restaurants, retail and local transportation. Such expenditures were the beginning of economic impacts throughout the county, the region and state. The 2014 Progressive Insurance Miami International Boat Show takes place in Miami Beach Feb , bringing more than 3,000 boats and 2,000 exhibitors from across the globe to three locations Miami Beach Convention Center, Sea Isle Marina & Yachting Center, and Miamarina at Bayside. Progressive Insurance Miami International Boat Show by the numbers* 50: Number of exhibitors at the first Miami International Boat Show, held in 1941 under a tent at Miami s Bayside Park

3 45,000: Average number of people working the Miami Boat Show, including exhibitors, contractors, facility staff, show employees, etc. 200,000: Estimated number of hotel rooms booked for the Miami Boat Show 110,000 +: Number of attendees expected in million sq. ft.: Gross amount of exhibition space at the Miami Beach Convention Center the boat show uses all of it! 1 million sq. ft.: Amount of carpet used at the Miami Beach Convention Center for the boat show enough to cover 20 football fields! 14 days: Length of time required for electricians to complete the show s temporary power plant; a permanent installation with the same electrical requirements would require six months to build! Recreational Boating in Florida* Number of recreational boats: 865,287 o 84% power boats o 11% PWCs o 3% sailboats o 2% other boats Households per boat: 8.6 Recreational boating industry businesses: 5,539 Total boating jobs: 43,859

4 Total sales for new power boats, engines, trailers and accessories in 2012: $1.7 billion o Increase of 14.9% over 2011 retail sales o Ranks #1 in U.S. Total boat registrations in 2012: 870,031 o Decrease of 2.2% over 2011 state registrations o Ranks #1 in U.S. *Source: NMMA Editor s Contact Joice Truban Curry with c3 Communications, Inc. at or Note: joice@c3publicrelations.com for press materials, photos and interviews. ### About the Progressive Insurance Miami International Boat Show & Strictly Sail Show : The Progressive Insurance Miami International Boat Show is produced by the National Marine Manufacturers Association (NMMA), the world s largest producer of boat shows and the leading association representing the recreational boating industry. NMMA member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters and anglers throughout the U.S. and Canada. The association is dedicated to industry growth through programs in public policy advocacy, market statistics and research, product quality assurance and promotion of the boating lifestyle. For more information, visit About Progressive: The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever and however it s most convenient

5 online at progressive.com, by phone at PROGRESSIVE, on a mobile device or in-person with a local agent. Progressive also offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, as well as home insurance through select carriers. It s the fourth largest auto insurer in the country, the largest seller of motorcycle insurance and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price, Snapshot and Service Centers. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR. To learn more about Progressive Boat Insurance, which insures more than one million watercraft, contact Erin Vrobel at Erin_L_Vrobel@Progressive.com, (440) Jennifer Young Publicist c3 Communications, Inc. Follow us on Facebook at c3 Communications, Inc. Visit our web site at office cell