The Port of Portland generated 26,598 direct, induced and indirect jobs, $1.7 billion in wages, salaries and consumption impacts, $4.6 billion in business revenue and more than $164 million in state and local taxes in 2011, according to a new economic impact analysis.
Additionally, marine operations at Portland’s four terminals generated more than 9,000 jobs, more than $750 million in personal income, $803 million in business revenue and about $72 million in state and local taxes, according to the study, which was conducted by John C. Martin Associates of Lancaster, Pennsylvania.
“The annual business revenue generated is about four percent of the Portland-Vancouver gross regional product,” Bill Wyatt, the port’s executive director, said. “This industry definitely plays a critical role in our regional economy and quality of life.”
About 26,600 area residents work at a Port of Portland-related job, according to the study, including airline personnel, longshore workers, distribution and warehouse employees, truck drivers, railroad employees, river and bar pilots and rental car company workers.
In addition to its seaport, the Port of Portland oversees three airports – most notably Portland International Airport – and four business parks.
The port’s aviation and marine activities directly generated about $54 million in local property taxes in 2011, a 6 to 1 return ratio, according to the study.
Tenants of the port’s four business parks generated more than 30,000 jobs, created about $1.5 billion in direct, induced and indirect income and consumption expenditures, about $5.3 billion in sales revenue and about $138 million in state and local taxes.
The port recently acquired another business park in Gresham, the Gresham Vista Industrial Park, but the impacts of that property were not included in the study.
The Port of Portland conducts periodic economic impact studies to track the impacts of new or lost business, changes in tonnage levels, operations and passenger levels, new real estate opportunities, capital expenditures and public policy issues. The last study was conducted in 2006.
The latest report can be viewed on the port’s website at: www.portofportland.com/Trade_Trans_Studies.aspx.
Friday, March 23, 2012
