Big Cash Boost at Boston Port
A new report from the Massachusetts Port Authority (Massport) shows the Port of Boston contributed $8.2 billion in economic activity in 2018, up from $4.6 billion in 2012.
Smart investments and partnerships have led to growth in jobs, business revenues, and tax contributions, it said.
“The finding that the Port of Boston contributed $8 billion in just one year to the regional economy underscores the important role transportation infrastructure plays in the vitality of an area,” said Transportation Secretary and CEO Stephanie Pollack.
“The Baker-Polito Administration has been and will continue to make strategic capital investments in transportation infrastructure in order to create jobs, strengthen the economic base, improve housing, and make connections which will help local communities and industries thrive,” Stephanie added.
Businesses throughout the Commonwealth and New England rely on Boston’s Port to import and export their products. The Economic Impact Study shows jobs related to Port activities rose 32% to 66,000 between 2012 and 2018. These jobs represent the people who work in the cargo industry, seafood processing operations, the harbor sightseeing tours, and the cruise industry.
The number of direct jobs has also increased nearly 30% during the same period, from about 7,000 to over 9,000. These employees worked in Massport owned and operated facilities, as well as private terminals and facilities throughout the Port.
“We credit a big part of our success to strong partnerships with Governor Charlie Baker, our State and Federal elected officials, the International Longshoremen’s Association, our customers, and the Army Corps of Engineers,” said Massport Port Director Lisa Wieland. “These collaborations have allowed us to make smart infrastructure investments and operational improvements to meet the demands of an evolving industry and a growing economy.”
“The success of the Port of Boston has had economic impacts throughout the Commonwealth,” said State Senator Nick Collins (D-1st Suffolk). “The state has partnered with Massport and the federal government to position the Port of Boston to be an industry leader and continue to enjoy record breaking success. Investment in the Port is about job creation, economic development and protecting our maritime industries.”
The study was conducted by Martin Associates, an internationally recognized leading economic and transportation consulting firm. The report was unveiled during a business breakfast event, co-sponsored by the Associated Industries of Massachusetts (AIM).