Economic Impacts: Seattle

A study released last week shows the economic impact created by the Port of Seattle has grown steadily over the past six years. The assessment touches all aspects of the port’s business — aviation, seaport, and real estate. Key findings include:

Seattle-Tacoma International Airport-related jobs (direct, induced and indirect) stand at 171,796, up from 138,370 jobs in 2007.
Economic impact from each home-port cruise ship in Seattle grew to $2.4 million, up from $1.9 million in prior years.
Marine cargo activities in 2013 generated 23,409 jobs, $1.8 billion in business revenues, $2.0 billion in personal income and local consumption, and $200 million in state and local taxes.
129,744 direct jobs are generated by Port of Seattle-owned facilities. This is up from 111,317 jobs in 2007. As the result of local and regional purchases by individuals holding the direct jobs, an additional 53,148 induced jobs are supported in the region.
$4.2 billion of direct wages and salaries were received by those 129,744 directly employed by the Port of Seattle's transportation infrastructure. As the result of re-spending this income, an additional $4.3 billion of income and consumption expenditures are created in the Seattle region, primarily King County.
Businesses providing services at the Port-owned marine terminals and Sea-Tac International Airport, as well as real estate tenants, received $19.8 billion of revenue, up from $17.6 billion in revenue in 2007.

"The Port of Seattle is an incredible economic engine," said Commissioner Courtney Gregoire. "Port activities added nearly 20,000 new jobs to our region's economy over the past six years, creating urgently needed opportunity at a time when our nation suffered one of the worst recessions in history. From our working waterfront to our runways, these jobs allow members of our community to earn family wages and contribute to the economic vitality of our entire region."

Click here for the full report.