Port Achieves $1.1 Billion Economic Impact
Port Creates 778 More Jobs
The Port’s most historic cargo year yielded a significant economic stimulus, reporting 778 new trade related jobs, $5 million in additional taxes and an additional $90 million in Maritime related economic activity as the Port of Hueneme continues to grow as an economic engine for Ventura County and the region. Highlights of the study show that more than 315 of these newly created jobs remain local. This announcement comes from a just released Economic Impact report for fiscal year 2013 performed by Martin Associates Economic Consulting firm. The results will be available on the Ports website by going to www.portofhueneme.org.
“These are significant numbers for the port and our community,” said Port Commission President Mary Anne Rooney, “last year was a record year and we are happy to announce another dynamic year of growth. The biggest winners were those finding new jobs as a result of our customer’s cargo and business expansion”.
Port CEO and Executive Director Kristin Decas said, “We attribute this success to increasing economic stability and the know-how of our customers to diversify their cargos and develop new markets. First and second quarter performance for FY 2014 continues to be strong and we are cautiously optimistic that the Port economy will continue to grow and add new jobs.”
With over 20 years, experience assessing economic impacts to the world’s transportation systems, Martin Associates is one of the most respected economic consulting firms worldwide performing studies of international trade, demographics, public opinion and market surveys.
Characteristic of the Port’s community focus, the Martin report showed almost 40% of all Port related jobs were held by Oxnard residents with the city of Port Hueneme coming in second with just under 8% of the total jobs. An additional 400 jobs were added regionally according to Martin driven by increases in most all cargo commodities including, containers, automobiles, bananas, fresh fruit, liquid bulk cargo and other general non-containerized cargo. Last year port customers and their various operations generated more than $63 million in local and state taxes. That number grew by 8% in 2013 to $69 million.
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