Port Economic Impacts: Brownsville, Quonset
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More than 44,000 jobs and $3 billion in annual state economic activity are attributable to maritime business at the Port of Brownsville, according to a study commissioned by the port.
The study measures four types of impacts: jobs, employee earnings, business revenue, and local, state and federal taxes.
According to the study, port activity supports nearly 8,000 Rio Grande Valley jobs, specifically including 3,181 local jobs directly attributable to the port, 3,001 induced jobs created by the spending of those employed directly by the port and 1,783 indirect jobs created by the local purchases of businesses supplying services to the port and businesses dependent upon port activities.
The study also found that the port created $3 billion in total state economic activity in 2015, including $580 million in revenues earned by local business supplying cargo and vessel handling services. Another $2.1 billion represents the value to the state of Texas from the movement of port cargoes connected to wind farm construction and other manufacturing. Tax revenues attributed to port activities topped $164 million in 2015.
The reported 2015 data indicates significant growth since 2012 in port-related economic impacts, including 22,446 additional jobs and more than $705.7 million in new economic activity.
"The regional impact on jobs has grown dramatically," said John Wood, chair of the Brownsville Navigation District. "The reason can be attributed to the increase in cargo handled at the port and the value of the commodities."
Quonset Business Park, A Key Driver of Rhode Island’s Economy
A study commissioned by the Quonset Development Corporation (QDC) shows that in 2015 Quonset Business Park supported more than 21,000 full-time equivalent jobs and 1 out of every 23 jobs in the state of Rhode Island. It also generated $2.85 billion in economic output, $1.26 billion in labor income, and $113.1 million in tax revenues.
The QDC is a quasi-state agency responsible for the development and management of the Quonset Business Park.
The former naval air station has become a major driver of the state’s economy with more than 200 companies employing nearly 11,000 people at the Park. QDC’s Port of Davisville ranks among North America’s leading auto importing ports. Since 2005, the port has attracted more than $500 million in private sector investment.
The study also showed that more than 5,700 workers or 14 percent of all manufacturing jobs in the state are at Quonset. Further, the average private sector jobs at Quonset paid wages 8.3 percent higher ($56,524) than the state average ($52,196). The study projects that by 2030 the park will annually produce $4.5 billion in output, $2 billion in labor income, $180.8 million in tax revenues and more than 33,700 FTE jobs.
"Quonset Business Park is a major part of Rhode Island’s economy and it is a great example of how public investments can lead to greater private investment and job creation," said Governor Gina M. Raimondo. "But the success we have seen at Quonset cannot be sustained unless we have the skilled workforce to help businesses meet their growing demands. That’s why my administration launched the Real Jobs RI initiative and has been working with Electric Boat to introduce a strategic workforce plan aimed at addressing long-term hiring opportunities at Quonset. If we want to compete in the 21st century economy, we need to invest in the skills that businesses need."
View the full report here.
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