|
|
|
FOR IMMEDIATE
RELEASE
PORTLAND, ORE. (March
21, 2012) – New Stats Show Port is Job Generator
Each weekday, nearly 26,600 area residents get up and go to work at a Port of Portland-related job. This includes, for example, airline personnel, longshore workers, distribution and warehouse employees, truck drivers, railroad employees, river and bar pilots, and rental car company workers.
According to a new economic impact analysis, the Port of Portland generated 26,598 direct, induced and indirect jobs, $1.7 billion in wages, salaries and consumption impacts, $4.6 billion in business revenue and more than $164 million in state and local taxes in 2011.
Aviation activities at Portland International, Hillsboro and Troutdale airports generated about 17,500 jobs, more than $988 million in personal income, nearly $3.8 billion in business revenue and about $92 million in state and local taxes. When the visitor industry impact of those airports is added, the study concluded that more than 53,000 regional jobs were generated as well as about $1.8 billion in visitor spending at hotels, restaurants, retailers, entertainment venues and in-town cabs.
Port marine operations at its four terminals generated more than 9,000 jobs, more than $750 million in personal income, $803 million in business revenue and about $72 million in state and local taxes.
"It is significant to note that the total direct jobs generated by Port activities are equivalent to the total number employed by Providence Health System, the metro area's third largest employer," said Bill Wyatt, Port of Portland executive director. "In addition, the annual business revenue generated is about four percent of the Portland-Vancouver gross regional product. This industry definitely plays a critical role in our regional economy and quality of life. That being said, it is because area businesses and passengers choose to use our facilities that these numbers are what they are. For that, we offer our thanks to all of our customers and stakeholders."
The Port of Portland's four business and industrial parks contribute to the region's economic vitality as well. Tenants of the Port's business parks generated more than 30,000 jobs, created about $1.5 billion in direct, induced and indirect income and consumption expenditures, about $5.3 billion in sales revenue and about $138 million in state and local taxes. The Port recently acquired another business park in Gresham, the Gresham Vista Industrial Park. Impacts of that property were not included in this study.
Since the Port collects about $9 million in property taxes in its taxing jurisdiction (Multnomah, Washington and Clackamas counties), the study also examined return on investment for those tax dollars. The Port's aviation and marine activities directly generated about $54 million in local property taxes, a 6 to 1 return ratio.
Of the approximately 14,000 direct jobs generated by the Port, more than 50 percent of the job holders resided in the Port's taxing jurisdiction (Multnomah County, 39 percent; Washington County, 6.3 percent; and Clackamas County 8.7 percent.) Clark County is home to about 28 percent of the workers while the balance reside in Skamania County and other regional locations.
The study was conducted by John C. Martin Associates, LLC, of Lancaster, Pa. The Port conducts periodic economic impact studies to assist in tracking the impacts of new or lost business, changes in tonnage levels, operations and passenger levels, new real estate opportunities, capital expenditures and public policy issues. The last study was conducted in 2006. Full copies of the report can be viewed on the Port's Web site at: http://www.portofportland.com/Trade_Trans_Studies.aspx
Port of Portland Economic Impacts Summary
Source: Martin Associates, 2011
Note: Columns are not meant for summing purpose, some Industrial Properties impacts are included in Aviation and Marine detail; Jobs and income figures include direct, indirect, and induced; Taxes include state and local only. Additionally, PDX generated $246,200,000 in federal aviation-specific taxes in 2011.
Aviation
|
Jobs |
Income |
Business Revenue |
Taxes |
PDX
(measures Portland International Airport impacts only) |
16,308 |
$922,030,000 |
$3,725,006,000 |
$85,944,000 |
GA
(measures Hillsboro and Troutdale airports only) |
1,191 |
$66,843,000 |
$71,888,000 |
$6,236,000 |
Visitor
(measures combined visitor impacts for PDX &GA) |
36,238 |
$1,026,960,000 |
$1,762,603,000 |
$83,208,000 |
Total Regional Aviation
(measures all aviation impacts including visitor industry) |
53,737 |
$2,015,833,000 |
$5,559,497,000 |
$175,388,000 |
Marine
|
Jobs |
Income |
Business Revenue |
Taxes |
Port of Portland
Terminals 2, 4, 5, 6 |
9,099 |
$750,699,000 |
$803,488,000 |
$72,087,000 |
Portland Harbor
(measures Port terminals plus private terminals) |
18,081 |
$1,461,881,000 |
$1,518,364,000 |
$140,206,000 |
Total Regional Maritime
(measures Port terminals, private terminals and Port of Vancouver) |
22,063 |
$1,746,956,000 |
$1,737,441,000 |
$170,666,000 |
Industrial Real Estate/Business Parks
|
Jobs |
Income |
Business Revenue |
Taxes |
| Business Park tenants (Measures impacts of Port business parks. Note: Adding this row with numbers above will result in double counting) |
30,974 |
$1,485,934,000 |
$5,333,291,000 |
$138,192,000 |
Total Port Impacts
|
Jobs |
Income |
Business Revenue |
State/Local Taxes |
Aviation
(Measures PDX and GA only/excludes visitor impacts) |
17,499 |
$988,873,000 |
$3,796,894,000 |
$92,180,000 |
Marine
(measures Port terminals only) |
9,099 |
$750,699,000 |
$803,488,000 |
$72,087,000 |
| TOTAL |
26,598 |
$1,739,572,000 |
$4,600,382,000 |
$164,267,000 |
Total Regional Impacts
|
Jobs |
Income |
Business Revenue |
Taxes |
| Total Regional Maritime and Aviation Activity |
75,800 |
$3,762,789,000 |
$7,296,938,000 |
$346,054,000 |
Jobs as a Percentage of Regional (PMSA) Employment
|
% of jobs contributed to the region |
Jobs as a proportion to regional jobs |
| Total Port |
2.7% |
1 in 37 |
| Total Region |
7.8% |
1 in 13 |
Note: Port and Regional Jobs are direct, indirect , induced (Port 26,598; Region: 75,801; Total Regional Employment 975,900: Source: OLMIS 2011: Updated 3/7/12
The Port collected $9 million in property taxes for 2011 in its taxing jurisdiction (Multnomah, Washington and Clackamas counties.) For every $1 collected, the Port generated more than $6.
Note: 6:1 generated ratio based on 2011 study; 54.4 mil/9mil
Definitions
Direct jobs are those jobs held by employees which directly work for an aviation, marine, or real estate
tenant/firm.
Indirect jobs are those jobs created from the local purchases made by aviation, marine and real estate tenants/firms.
Induced jobs are those jobs created from the re-spending (consumption) of those employed in direct jobs.
|
|
|