The Marine Industries Association of South Florida has signed a 30-year agreement with Show Management to continue producing and managing the Fort Lauderdale International Boat Show, the parties announced Friday.
Show Management, based in Fort Lauderdale, has produced and managed the trade group's signature boat show since 1976, when it moved to the Bahia Mar Yachting Center.
"Our marine industry has become a prominent job creator, and our region is a world-leading marine sales, refit and repair hub," said Phil Purcell, executive director of the association, which owns the Fort Lauderdale boating extravaganza. "This agreement assures the show's future leadership presence in our region and within the marine community."
Financial terms of the new deal were not disclosed.
"All of us at Show Management are honored to have been selected to operate the show through 2046 and will continue dedicating all of our resources to ensure [it] remains the largest and best boat show in the world," said Efrem "Skip" Zimbalist III, company president.
This year, the 57th Fort Lauderdale International Boat Show will run Nov. 3-7 at seven sites around the city, including the Bahia Mar Yachting Center, and will span more than 3 million square feet of space.
The trade group is in talks with the new owners of the Bahia Mar Fort Lauderdale Beach hotel and its yachting center to remain headquartered there beyond its current lease, which ends in 2020, a spokeswoman said.
The first formal edition of the show was held in 1959 at the War Memorial Auditorium as an exhibit with less than a dozen local boat dealers.
Today the boat show generates an economic impact of more than $500 million and attracts more than 1,000 exhibitors and about 100,000 attendees.
In South Florida, the marine industry creates more than 136,000 jobs and an annual economic output of $11.5 billion, according to the Fort Lauderdale-based trade group.
"The contract was a result of a well-thought-out and balanced negotiation process that builds on a relationship that was formed in 1975," Purcell said. "It continues the collaboration with [Show Management] that ensures growth for the show and industry it supports while continuing to evolve it so it remains a world-class and industry leading event, not just for the five days it's held but the other 360 days of the year."
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