The Port of Green Bay had an economic impact of more than $83 million in 2010, supporting 823 local jobs, according to a new report.
The results were taken from the newly updated version of the U.S. Department of Transportation’s Maritime Administration’s MARAD Port Economic Impact Kit developed by Rutgers University. The MARAD Kit estimates the economic value of port activities in terms of jobs, income and taxes generated.
The report found that port activities produced an estimated $26 million in income, $802,000 in state taxes, $890,000 in local taxes and provided an estimated $40 million in gross state product.
“The shipping industry continues to be the most cost effective method of transportation for commodities, generates employment opportunities for the region and brings money into our communities,” says Dean Haen, manager for the port.
The port received more than 1.7 million metric tons of cargo in 2010. While this is a slight decrease from 2009, Haen is looking forward to the 2011 shipping season. “We saw our largest decrease in tonnage in 2008 as a result of the recession,” Haen says. “But each year we are closing the gap on the tonnage brought into the port so this is very positive news.”
Haen says that the economy has been a challenge for all types of businesses and the port is no exception. “However, we are confident that business will increase as the economy recovers, keeping the port a vital component of our area economy,” Haen says. “In addition, our strategic plan outlines new ideas and ways we can expand our reach beyond our existing markets to increase business in Northeast Wisconsin.”