Ports Of Indiana Releases Economic Impact Study
Indiana’s three ports generate $8.7 billion annually for the state’s economy and support more than 49,000 jobs statewide, according to a recent study.
Ports of Indiana commissioned Martin Associates of Lancaster, Pa., to study the economic activities generated by domestic and international freight moving through the ports of Burns Harbor, Jeffersonville and Mount Vernon, along with the economic activity of port-related companies, wages and taxes.
The study is titled “The Local and Regional Economic Impacts of the Ports of Indiana.”
Martin Associates identified 49,040 jobs supported by port activities, including direct, indirect, induced and related jobs. Employment supported by Ports of Indiana’s activities generates annual wages totaling $3.5 billion, and state and local governments collect $526 million in taxes per year from port operations, of which $213 million goes to local governments.
“Ports of Indiana is a truly unique port system that generates significant economic impacts throughout the region and beyond,” said Dr. John Martin, founder of Martin Associates. “Indiana leverages its connections to the nation’s two busiest waterways – the Great Lakes and our river system – with a statewide port authority that has tremendous economic development capabilities.”
Burns Harbor, on Lake Michigan, generates $4.6 billion in annual economic impacts. On the Ohio River, annual operations at Jeffersonville generate $2.48 billion in economic activity, while Mount Vernon produces $1.6 billion.
“It’s gratifying to see the incredible economic return Ports of Indiana provides to the state, but our focus is always on building for the future,” Ports of Indiana CEO Jody Peacock said. “Our ports have hundreds of acres of available industrial sites with direct access to domestic and international markets via river barges, lakers, ocean vessels and all major Class I rail carriers. These logistics resources provide critical strategic advantages for Indiana’s agriculture, manufacturing, and industrial sectors.”
