2015 Economic Impact Report shows impressive growth in jobs, regional economic value
Every four to five years, we commission a study to measure the Port of Vancouver USA’s economic impact in Southwest Washington and the Pacific Northwest. On Dec. 8, Dr. John C. Martin, president of Martin Associates, presented our 2015 Economic Impact Report to port commissioners, staff and attendees at our regularly scheduled board meeting.
Dr. Martin had some very good news, and we wanted to share some of the impressive numbers his team found when they looked back at the last few years of progress and interviewed people who work on port property.
The port is generating $2.9 billion in total annual economic value across our region through cargo handled at the port’s marine terminals and revenue generated by industrial tenants, an increase of more than 81 percent from the economic value generated by the port in 2010. What’s more, growth of non-marine tenants – those port businesses that do not rely on shipping – and maritime activity at the port increased direct jobs by 900 and spurred a $42.9 million in increase in direct personal salary income since 2010.
This is just a snapshot of the full report, which provides an in-depth to look at how the Port of Vancouver’s role as an economic engine helps provide jobs, tax revenue and services here in our community and across the Pacific Northwest.
The report also helps our elected commission and staff members plan for the future as we continue to attract industry, foster maritime activity and invest in infrastructure that supports local workers, families and businesses.
We’re very pleased with these numbers and proud that we’re meeting our mission of providing economic benefit to our community through leadership, stewardship and partnership in marine and industrial development.