Study: Indiana ports generate $8.7 billion
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Indiana’s three ports are estimated to generate $8.7 billion each year for the economy as well as support 49,000 jobs, according to a new study from the Ports of Indiana.
The study, produced by Pennsylvania-based maritime economic and strategic assessment firm Martin Associates, outlined the economic impact the Hoosier ports of Burns Harbor, Jeffersonville and Mount Vernon create.
The jobs supported by the ports are tied to $3.5 billion in annual wages, the study said. The ports pay $526 million in taxes each year with $213 million heading to local governments.
“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 in a news release. “These logistics resources provide critical strategic advantages for Indiana’s agriculture, manufacturing, and industrial sectors.”
Portage’s Burns Harbor port is responsible for $4.6 billion of annual impact, which is greatly supported by the area’s steel industry. Jeffersonville generated $2.48 with Mount Vernon following with $1.6 billion.
You can connect to the full study by clicking here.