Economic Report - Port of Oakland Generates Nearly 100,000 Jobs
As second largest jobs generator in Oakland, Port impacts top $174 billion
[By: Port of Oakland]
According to an economic impact report released today, the Port of Oakland generates 98,345 local jobs. As the second largest job generator in Oakland and the fifth largest job generator in the region, the Port remains a critical source of economic opportunity and jobs in Northern California.
The Port supported an increase of 14,201 jobs, which represents 14% growth from the previous report conducted in 2017. Approximately one in four direct Port jobs are held by Oakland residents, with a significant increase in jobs generated by Oakland International Airport (OAK), which is owned and operated by the Port of Oakland.
The study, conducted by Martin Associates, shows that the Port’s overall economic value—from business revenue, consumer spending and the total value of goods and services—tops $174 billion. That’s up 34 percent from $130 billion in 2017.
“The Port of Oakland continues to be one of the region's leading employers, creating good-paying jobs for local residents and families,” said Port of Oakland Executive Director Danny Wan. “These jobs are a critical contribution to the economic vitality and growth of communities in our region.”
The Port and its aviation, maritime and real estate tenants contribute a total of $970 million in state and local taxes. Of that, $497 million is generated by OAK. The study indicates that OAK plays a vital role in the economic health of the region. The increase in activity generated by the Airport was particularly critical to driving the economic impacts of the local visitor industry.
The visitor industry is comprised of hotel, restaurant and retail jobs, as well as purchases from millions of Bay Area visitors traveling through OAK. The economic impacts from OAK and visitors to the region resulted in the generation of 12,258 new jobs—the largest share from the Port’s three business lines.
The study also shows an increase in economic opportunities among the Port's three businesses—Oakland International Airport, the Oakland Seaport, and Commercial Real Estate holdings including Jack London Square.
“The report confirms the Port of Oakland plays a vital role in supporting businesses in the region,” said Port of Oakland Board of Commissioners President Barbara Leslie. She adds, “The Port continues to develop and expand economic opportunities on behalf of our community.”
The latest Economic Impact Study shows:
- Oakland International Airport saw a significant increase in local purchases generated by those visiting the Bay Area. This drove an increase in the total economic value of the Airport from $69.4 billion in 2017 to $82.9 billion in 2021.
- The Oakland Seaport generated $795 million in direct wages and salaries. This contributed to the growth of state and local taxes generated by the Seaport from 2017 to 2021 with a $119 million dollar increase totaling $400 million in state and local taxes paid.
- Occupancy rates have continued to be near-full capacity within the Port’s Commercial Real Estate holdings with 25.61% tenant growth from 2017. Tenant occupancy drives an increase in purchases from local businesses. Tenants increased local purchases by $14.3 million over the same period.
"As one of the nation’s leading goods movement and trade portals, the Port of Oakland is a powerful engine for the Bay Area economy,” said Jim Wunderman, President and CEO of the Bay Area Council. “As this report shows, the port and its many related operations are providing tens of thousands of good paying local jobs, generating hundreds of millions in economic activity and supporting a vital ecosystem of businesses across the region.”
This Economic Impact Report is based on the Port’s activity levels, economic analysis models and surveys of those impacted by the Port. The data is from 2021, which was collected and analyzed in 2022. Download a copy of the full Economic Impact Report HERE.
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