The Jacksonville Port Authority is an independent government agency created by Florida legislature in 1963. The agency acts as a landlord of the Port of Jacksonville, the third largest in the state. It manages the port’s upkeep and expansion and receives its operating revenue from lease and rental fees it charges private business that wish to operate from the seaport. A 2009 study estimated that 65,000 jobs in Northeast Florida are related to port activity and that the port generates nearly $19 billion in economic impact annually. The port’s current expansion project is expected to create an additional 5,000 to 10,000 new jobs. On average, these jobs provide a higher wage (nearly $44,000 annually) in comparison to the average salary for a Jacksonville resident (about $27,000 a year).