Ports of Indiana generates $8.7 billion annual economic impact, supports 49,000 jobs, a study shows
Indiana’s three ports generate $8.7 billion annually for the state’s economy and support more than 49,000 jobs statewide, according to a new study released by Ports of Indiana.
Ports of Indiana commissioned Martin Associates of Lancaster, Pa., one of the world’s leading maritime economic and strategic assessment firms, to study the economic activities generated by domestic and international freight moving through the ports of Burns Harbor, Jeffersonville, and Mount Vernon, along with the economic output of port-related companies, wages, and taxes.
Martin Associates identified 49,040 jobs supported by port activities, including direct, indirect, induced, and related jobs. Employment supported by Ports of Indiana’s activities generates annual wages totaling $3.5 billion, and state and local governments collect $526 million in taxes per year from port operations, of which $213 million goes to local governments.
“Ports of Indiana is a truly unique port system that generates significant economic impacts throughout the region and beyond,” said Dr. John Martin, founder of Martin Associates. “Indiana leverages its connections to the nation’s two busiest waterways – the Great Lakes and our river system – with a statewide port authority that has tremendous economic development capabilities.”
On Lake Michigan, Burns Harbor, located in the heart of the nation’s largest steel manufacturing region, generates $4.6 billion in annual economic impacts. On the Ohio River, annual operations at Jeffersonville generate $2.48 billion in economic activity while Mount Vernon produces $1.6 billion.
“It’s gratifying to see the incredible economic return Ports of Indiana provides to the state, but our focus is always on building for the future,” said Ports of Indiana CEO Jody Peacock. “Our ports have hundreds of acres of available industrial sites with direct access to domestic and international markets via river barges, lakers, ocean vessels, and all major Class I rail carriers. These logistics resources provide critical strategic advantages for Indiana’s agriculture, manufacturing, and industrial sectors.”
Ports of Indiana is a statewide port authority operating three ports on the Ohio River and Lake Michigan. Established in 1961, Ports of Indiana is a self-funded enterprise dedicated to growing Indiana’s economy by developing and maintaining a world-class port system, and by serving as a statewide resource for maritime issues, international trade and foreign trade zones, multimodal logistics and specialized bond financing.
