Skip to main content

Economic impact and the new overtime rules

The completion of an economic impact study by the Marine Industries Association of Florida is a model for others, while the Marine Retailers Association of the Americas will be tackling the new overtime regulations in an upcoming webinar.

First, it’s important to have solid data that supports the marine industry’s claim of positive impacts on jobs in any given state. It’s something all active state industry associations should have in their arsenal. Simply, it’s politically powerful stuff when attempting to influence public policy. That’s why the MIAF has just released its new Economic Impact Study completed by Thomas J. Murray & Associates.

“Our last study was completed in 2008”, MIAF president Hans Wilson says. “At our 2015 annual meeting, all eight industry associations from around Florida recognized that to continue to be influential in the state capitol, we needed solid, updated impact information documenting the importance of our industry on state and local levels.

“In 2008,” Wilson continued, “we were already dealing with an economic decline and that study showed we dropped from $18.4 billion to $16.8 billion. After that study, the economy actually continued to worsen, but while the recovery has been slow, it’s been up steadily.”

The new study reveals the marine industry now represents a solid $15.3 billion in statewide annual impact. There are 867,463 recreational boats registered in Florida. Equally important, the industry is providing 183,820 Florida jobs.

“In addition to the statewide information, we are able to provide updated economic impact data for our regional associations,” Wilson says. “These include: Northwest Florida Marine Industries Association; Southwest Florida Marine Industries Association; Collier County Marine Industries Association; Marine Industries Association of Palm Beach; Marine Industries Association of South Florida; Marine Industries Association of the Treasure Coast; Marine Industries Association of Central Florida; and the Jacksonville Marine Association.”

For study information, go to

Exempt or non-exempt?

Lest you’ve put it out of mind, be reminded that the Dec. 1 effective date for the new overtime regulations that could significantly alter how you pay employees is fast approaching. It’s likely you haven’t had time to prepare for these new regs. So you don’t know which employees in your dealership will be exempt or non-exempt from overtime pay.

Enter the MRAA. Teaming up with KPA HR Products vice president for HR management Kathryn Carlson, the MRAA is offering a special webinar that will give you a complete overview of the new Department of Labor rules and what you can do right now to prepare.

Presenter Carlson brings more than 25 years of HR management experience and is a certified HR professional. For the last 13 years, she has focused on developing HR software and programs to improve efficiency, reduce risk, and ensure compliance for companies ranging from small businesses to international.

The webinar is slated for Wednesday, Sept. 14 at noon Eastern. Click here for more.



Industry Mourns Cruisers Yachts Owner

K.C. Stock, who was 84, was known for his “commitment to the employees at Cruisers Yachts.”


Grand Banks Purchases Florida Property

The parcel, which is opposite the company’s Stuart yard, has berths for up to nine boats and will increase service capabilities.


Limestone Boat Co. Posts Q3 Results

Unit production was down compared with the second quarter, and revenues decreased 33%.


Yamaha Dealers Now Carry Siren Systems

Siren Marine’s “Connected Boat” technology can be purchased and installed at more than 2,100 Yamaha outboard dealers.


Northpoint Expands Marine Presence

Northpoint Commercial Finance has partnered with Elite Recreational Finance to offer retail financing.


BRP Reports 71% Increase in Q3 Revenues

The Sea-Doo manufacturer had total revenue of $2.7 billion, but North American marine retail sales were down 47%.


Airmar Announces Training Dates

Certified Installer and SmartBoat system classes are being held this month in New Jersey and next year in New Hampshire.


The Survey Says …

Surveying customers to find out what they think about your business has never been more important.


Marine Development Inc. Changes Hands

Mick Webber, the former president/CEO and owner of HydroHoist, has purchased the company from its founders.