Everett, Wash. – A new study of the economic impacts of the Port of Everett found that Port operations supported 35,130 regional jobs in 2014, up 133 jobs from 2012, according to an independent analysis by Pennsylvania-based Martin Associates.  The study found the Port’s Marine Cargo and Industrial Properties support 33,376 direct, indirect and induced jobs, while the Marina and Waterfront Place support 1,753 direct, indirect and induced jobs. 
“The Port continues to be a significant economic generator in the region and was able to maintain its economic contribution, despite the economic recession,” said Dr. John Martin of Martin Associates. He noted that “continued investment in port infrastructure is necessary in order for the Port to sustain and grow its economic contribution.” Port activity also contributes:   - $373 million in state and local taxes; $220.8 million was collected at the state level, and $152.2 million at the local  - $583 million in local purchases - Personal wages and local consumption related to the port-sector increased to  $3.9 billion, with the average annual salary of those directly employed by port-related businesses equating to $86,703.  In addition to regular activity, the Port of Everett has a very ambitious capital investment strategy that is designed to create additional economic opportunities and jobs for the region, Port of Everett CEO Les Reardanz said. In the next five years, the Port is expected to invest $134.2 million, $44.5 million this year alone. This construction activity will support approximately 3,300 temporary construction jobs over the next five years.  Last month, Martin Associates developed for the American Association of Port Authorities (AAPA) a new report on the economic prosperity of seaports in the U.S. and found that our nation’s seaports support 23.1 million jobs.  Additionally, the Martin Associates’ 2014 National Economic Impact of the U.S. Coastal Port System report showed: - Federal, state and local tax revenues generated by port-sector and importer/exporter revenues rose 51 percent to $321.1 billion since 2007; and, - Personal wages and local consumption related to the port-sector increased from $649 billion in 2007 to $1.1 trillion in 2014, with the average annual salary of those directly employed by port-related businesses equating to $53,723 in 2014.  “The growth in jobs and economic importance of America’s seaports reflects the fact that the value of international cargo handled at these ports increased by $400 billion since 2007, reaching about $1.8 trillion in 2014,” said Dr. Martin. “It’s important to emphasize that the key growth in our international trade was in U.S. exports, which saw a 60 percent increase in value over the past seven years.” Dr. Martin also emphasized that the robust growth in the economic impact value from U.S. ports occurred despite the economic recession that severely hampered marine cargo activity between 2008 and 2012. Port of Everett CEO Les Reardanz reiterated that the Martin Associates’ findings “also show how vitally important it is that investment in our ports and landside transportation infrastructure be a high priority so that the U.S. can remain a global competitor, providing these positive impacts for generations to come.” AAPA President and CEO Kurt Nagle agreed. He said, “The fact is that while over a quarter of the U.S. economy is accounted for by port cargo activity, freight connections to our ports are crumbling, putting our economy at risk and reducing America's competitiveness in global markets." Click here to view full economic impact study of the Port of Everett.