A new study released at the Port of Indiana-Jeffersonville revealed that Indiana’s three ports annually contribute $5.4 billion in economic activity to the state economy and 43,700 jobs.
The study was conducted by Martin Associates, one of the foremost maritime economic consulting firms in the country, and was peer reviewed by economics professors from Indiana University, University of Notre Dame and Purdue University. The study focused on 2009 data, which reflected a significant economic downturn, suggesting that the results are conservative estimates for the ports’ annual impacts. Dr. John Martin presented the economic impact study to the Ports of Indiana Commission during the public business meeting at Jeffersonville City Hall.
“The mission of the Ports of Indiana is to develop and maintain a world-class port system dedicated to growing Indiana’s economy,” said Rich Cooper, CEO for the Ports of Indiana. “This study helps us quantify how valuable these ports are to our state’s economy, but the biggest contribution of our ports is the competitive advantage they create for Indiana companies that ship goods by water. Maintaining this advantage will ensure these ports continue to help grow our state economy for years to come.”
Other annual economic contributions generated by Indiana’s three ports included $2.38 billion in personal income, $732 million in local purchases and $224 in million state and local taxes. The study was released during a special celebration commemorating the 25th anniversary of the Port of Indiana-Jeffersonville. This port handled its first cargoes in the summer of 1985 when a shipment of automobile presses from Germany was unloaded from a barge. Over the last 25 years, the port has handled more than more than 30 million tons of barge shipments moving cargo in and out of southeast Indiana.
“For 25 years, this port has helped to build the local economy,” said Matt Smolek, port director for the Port of Indiana-Jeffersonville. “So many people have contributed to the success over the years and it’s very gratifying to see that this port now generates more than $1 billion for the economy each year and 10,000 jobs.”