Tuesday, February 5, 2019

Economic Impact Reported for Seaport Alliance

By Karen Robes Meeks

Together, the ports of Seattle and Tacoma accounted for 20,100 jobs, $1.9 billion in labor income and nearly $6 billion in business output from marine cargo in 2017, according to an economic impact report released by the Northwest Seaport Alliance (NWSA).

The tandem ports, which team up to create the fourth largest seaport in North America, saw more than 3.7 million TEUs carrying 26.1 million metric tons of containerized cargo that year, most of it international.

“The 3.7 million containers the Ports of Seattle and Tacoma handled in 2017 supported 15,000 jobs and $1.5 billion in income and benefits. These middle-class jobs, averaging $95,000, are the backbone of an inclusive economy and underscore the importance of protecting and investing in our working waterfront,” said Port of Seattle Commission Vice President and NWSA Managing Member Fred Felleman. “These port-related jobs are among the top-earning industries in King and Pierce Counties.”

According to the report, when indirect and induced ports-related activities are factored in, the NWSA activities supported 58,400 jobs in Washington, $3.2 billion in labor earnings and $9.7 billion in business output. Contributing to those numbers are auto imports, which supported 1,330 jobs, over $108.4 million in labor earnings and close to $309 million in business output; marine cargo accounted for3,880 jobs, $292 million in labor income and more than $1 billion in business output.

“More than 90 percent of the world’s trade travels over water, with total volume expected to triple by 2050,” said Port of Tacoma Commission President and NWSA Managing Member Clare Petrich. “NWSA ports need to be primed and ready to serve the future needs of our entire state.”