Bringing Jobs and Business to Our Region
The Port of Portland has a vital public mission to connect the region to the national and global marketplace. Because we generate 96 percent of our revenues from business transactions (only 4 percent of our revenue comes from taxes), the success of our marine, aviation and real estate business lines depends on our ability to attract and retain customers locally, nationally and internationally. For every $1 collected in property taxes by the Port, we generate $7.10 in property taxes through business transactions. No property taxes are used for aviation-related expenses.
The Port is an 800-employee, 24/7 operation with more than $1.6 billion in marine and aviation transportation infrastructure and real estate assets that generates nearly $250 million in annual revenues.
Many of our key customers such as shipping lines, railroads and airlines are located outside of our region or outside of the U.S and are private sector companies. We actively compete for their business. The investment we make in building business relationships not only helps fulfill our public mission, but also benefits the region we serve.
Business Development Results
We partner with the business community to aggressively and creatively recruit new nonstop air services. Today, Portland is the smallest of only 12 metro areas with both daily transatlantic and transpacific nonstop service. Our international services to Tokyo and Amsterdam generate a total airport and visitor direct business revenue in our region of $241.5 million.
Every ton of container cargo that comes through our marine terminals generates a local economic impact of $70. We handled 2.8 million tons last year for a $196 million impact. Each car that is brought to our docks generates an economic impact of $318. We handled nearly 450,000 cars last year for an economic impact of approximately $143 million.
During both tough and good economic times, the business development work we do helps pave the way for job creation and economic development for our region.