According to a recent economic impact analysis, construction of the new Miami Science Museum will result in a positive impact on both the City of Miami and Miami-Dade County based on its $300 million total project costs. The estimated one-time City of Miami total economic impacts include: $488.7 million in expenditures of which $183.6 million would be wages and salaries; and 3,635 total full time and part time person-years of employment. The one-time total Miami-Dade County impacts are estimated at $616.9 million in expenditures of which approximately $183.6 million would be wages and salaries; and 4,516 total full time and part time person-years of employment.

The ongoing operations of the Miami Science Museum, and the off-site spending of resident and tourist visitors associated with their visit, will generate total annual economic impacts to the City of Miami estimated at nearly $60.5 million in expenditures, of which $26.6 million would be wages and salaries; and 635 jobs. The annual museum operating impacts to Miami-Dade County are estimated at $95.4 million in expenditures, of which $38.2 million in wages and salaries; and a total of 914 jobs.

Most importantly, the community development and educational benefits of the new Miami Science Museum may have the most profound and long-lasting impacts on the community.  This project will enhance the knowledge of and interest in science and technology and will enhance the City of Miami as a place to live and work, thus improving all aspects of the local economy and community.

For the full report, please visit: Miami Science Museum Impact Report – April 2010