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Local waterway creates jobs, revenue
(Employment
: Beaumont-Port Arthur)
7/20/2006
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(Nederland) - The local waterway is more than a transportation route for 12 percent of the crude oil to domestic refineries, it creates more than 83,000 jobs and generates more than $11 billion annually, according to a study released this week. The Jefferson County Waterway and Navigation District hired Martin Associates of Lancaster, Pa., to estimate the economic impact of marine cargo activity at terminals located within the Waterway and to show the national economic benefit of maintaining the Waterway at its current depth of 40 feet. According to the study, the Waterway produces 83,692 direct, induced and indirect jobs in 2004. Of those, 14,987 were direct jobs providing service to the Waterway, including railroads and trucking companies transporting to and from marine terminals, steamship agents, ship chandlers, warehouse operators, shipyards and marine construction firms. Induced jobs, those created through the purchase of goods and services by those directly employed, like grocery stores, construction industry, retail stores, health care providers and transportation services, came to 13,628. Purchases by firms directly dependent on Waterway activity, including office supply companies, equipment and parts suppliers, maintenance and repair services, insurance brokers, business contractors and local utilities, created more than 55,000 indirect jobs. Those 83,692 jobs generated $4.7 billion in wages and salaries, $2.2 billion in business revenue, $3.7 billion in local purchases and $1.27 billion in federal, state and local taxes.
[Port Arthur News]
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source.
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