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March 17, 2015 |
Economic Impact: San Diego
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San Diego Port Generates $7.6 Billion in Regional Economic Impact
The Port of San Diego pumps more than $7.6 billion a year into the region from employment, sales, and purchases of goods and services, according to the findings of a newly released economic impact analysis of 2013 data.
The analysis breaks down the economic impact into two categories, direct impact and secondary impact, the latter including both indirect and induced effects.
The direct economic impact is derived from sales, employment, and operating expenditures (purchases of goods and services) occurring on port-managed property.
Secondary impacts comprise "ripple" effects from direct impacts and includes both indirect impact, representing spending on goods and services required to run port businesses, and induced effects, representing employee spending on consumer goods and services.
With respect to direct impacts, the study found that more than 33,000 jobs are located on tidelands, generating more than $4.4 billion in direct economic output. Compared to 2011, direct jobs increased by 8.0 percent and economic output by 9.0 percent.
The report shows that all jobs on port tidelands were aggregated and compared to the largest employers in San Diego County, the port would rank second only to the State of California and ahead of major San Diego organizations such as the University of California at San Diego and Sharp Healthcare.
The jobs are diverse – working with heavy industrial equipment, like ship repair and cargo/container processing; providing professional services like vessel insurance brokers, boat brokers, marketers and attorneys; conducting manual labor such as loading and unloading cruise passenger luggage and setting up conventions; interacting with visitors and customers in restaurants, hotels, upscale stores, boutiques and mobile street carts; and taking clients on excursions for ocean fishing, whale watching and dinner cruises.
As for secondary impacts, the report identified an additional 24,600 jobs and $3.2 billion in indirect impact in San Diego County resulting from the purchase of goods and services by businesses and organizations located on port tidelands, along with their employees. Secondary impacts are adjusted to ensure spending is not counted in both categories.
An interactive summary and full copy of the report can be found at portofsandiego.org/economic impact.
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