Georgia’s Ports Support State’s Economy

Thursday, May 27, 2010

Georgia Ports Authority (GPA) Executive Director Curtis J. Foltz announced the results of a study that confirms Georgia’s deepwater ports continue to be one of the state’s strongest economic engines, fostering the development of virtually every industry.

“I am pleased to report that the Ports of Savannah and Brunswick have maintained and created jobs for Georgia, despite the recent economic downturn,” GPA’s Executive Director Curtis J. Foltz. “The fundamental finding of this study is that the state’s strategic decisions to invest in our two deepwater ports have contributed to substantial economic activity in Georgia.”

The study entitled, “The Economic Impact of Georgia’s Deepwater Ports on Georgia’s Economy in FY2009” reveals, that even during one of the worst recessions since the Great Depression, Georgia’s ports sustained jobs and increased its economic impact for the state. The study was conducted by the Terry College of Business at the University of Georgia based on statistics from July 1, 2008 through June 30, 2009.

According to the study, Georgia’s deepwater ports support 295,422 full- and part-time jobs, which is nearly seven percent of Georgia’s total employment, or 9,000 additional jobs since the last study was conducted in 2006. This means that one job out of every 15 in Georgia is in some way dependent upon its ports.

Port operations help to preserve Georgia’s manufacturing base and foster growth of the state’s massive logistics, distribution and warehousing sectors. The ports are especially supportive of the state’s thriving agricultural industry.

The statewide economic impact of Georgia’s deepwater ports in fiscal year 2009 includes:
$61.7b in sales (8.6 percent of Georgia’s total sales);
$26.8b in state GDP (6.8 percent of Georgia’s total GDP);
$15.5b in income (4.6 percent of Georgia’s total personal income);
295,443 full- and part-time jobs (6.7 percent of Georgia’s total employment);
$3.5b in federal taxes;
$1.5b in state taxes; and
$1.1b in local taxes.

Georgia’s deepwater ports and inland barge terminals support nearly 300,000 jobs throughout the state annually and contribute $15.5 billion in income, $61.7 billion in revenue and $2.6 billion in state and local taxes to Georgia’s economy.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


DP World, SCA Pact for Ain Sokhna Port Development

Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport,

SCCT Prepares to Boost Vessel Traffic with 24-hour Access

A formal signing ceremony will now enable vessels to transit to Port Said East through a new side channel to be constructed bypassing the Suez Canal’s main entrance.

Controversial Nicaragua Canal Project Postponed

China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016.

Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0818 sec (12 req/sec)