Port of Vancouver’s Steady Growth Delivers Strong Economic Benefit
VANCOUVER, Wash. — The Port of Vancouver USA announced today that overall job numbers tied to port activities increased slightly over the past five years despite the struggling economy. According to a recently completed economic impact study, job growth linked to an increase in the port’s marine business made up for a slight decrease in jobs associated with the port’s industrial tenants and customers.
Total number of jobs directly generated by port marine and industrial activities in 2010 was 2,337; a small gain over 2,268 direct jobs in 2005.
Strong marine cargo growth in exported wheat, scrap metal and mineral exports, combined with increased wind energy imports, added 290 direct jobs related to the port’s marine business. More reflective of the recession, the industrial side of port operations lost 221 direct jobs.
“The Port of Vancouver’s growth in marine cargo and the resulting job creation is unusual in today’s economy,” said John Martin, the study’s lead economist. “It not only benefits the port, but the entire Southwest Washington community.”
Approximately every five years, the port commissions an economic impact study to measure its economic influence in Clark County and the Pacific Northwest. Last conducted in 2006, and now again in 2011, the studies assist port commissioners and executives in planning the port’s future. The economic analysis is also a key component in the port’s integrated decision making process when evaluating cargo mix and prospective tenants.
Information is presented on port-related jobs, salaries, business revenues and tax generation, all aimed at helping the port measure its success in delivering economic benefit to the local and regional economy.
Additional highlights of the study include:
- Total jobs associated with port activities (including direct, indirect, induced and influenced jobs) equaled 16,996 in 2010; up from 15,580 in 2005.
- The 2,337 jobs directly generated by port marine and industrial activities paid $116.3 million in wages and salaries in 2010, up from $98.75 million in 2005.
- Port business activities contributed $80.8 million in state and local taxes in 2010, supporting public services such as police and fire protection. There was no change in the amount of state and local taxes paid in 2010 in comparison to 2005.
- Port business activities injected $1.664 billion into Southwest Washington in 2010, a slight decrease from $1.693 billion in 2005.
The study was conducted by Martin Associates. The firm is based in Pennsylvania and conducts similar studies for major ports through the U.S. and Canada.
- The Local and Regional Economic Impacts of the Vancouver Harbor, 2010
- The Local and Regional Economic Impacts of the Port of Vancouver Non-Maritime Real Estate Tenants, 2010
- The Local and Regional Economic Impacts of the Port of Vancouver Marine Terminals and Non-Maritime Real Estate Tenants, 2010
About the Port of Vancouver USA
The Port of Vancouver USA, created by Clark County taxpayers in 1912, is one of the major ports on the Pacific Coast. Its competitive strengths include available land, versatile cargo handling capabilities, vast transportation networks, a dependable labor force and an exceptional level of service to its customers and community.
– POV –