A new study outlines Port of Tacoma’s $3 billion economic impact.
Real estate and marine cargo operations at the Port of Tacoma supported more than 29,000 jobs in 2013, which generated nearly $3 billion in economic activity, according to a study presented Thursday to commissioners.
That’s an increase in more than 3,000 direct jobs since 2004, the last time the Port commissioned an economic impact study.
Real estate and marine cargo activity produced more than $223 million in local and state taxes to support education, police, fire services and road improvements. That’s $92 million more than in 2004.
The analysis, performed by Martin Associates, a Pennsylvania-based firm that has conducted economic studies for ports through the U.S., focused on direct, indirect and induced jobs.
• Direct jobs include trucking companies and railroads moving cargo to and from terminals and warehouses, longshore workers, steamship agents and freight forwarders.
• Indirect jobs include office supply firms, maintenance and repair firms, and parts and equipment suppliers.
• Induced jobs are those created by people directly employed by marine cargo operations re-spending their wages in the community on housing, food and other consumer goods.
If the farmers and manufacturers who ship products through the Port of Tacoma are factored in, the port’s activities reach 267,000 jobs overall in Washington.
We see every day how important these trade-related jobs are to our friends and neighbors who raise families, build businesses and establish homes, said Clare Petrich, president of the Tacoma Port Commission. This study demonstrates that every person, job and dollar spent in the community adds up to a significant impact in our community.
View the presentation.
Download the fact sheet.
Read the full report.