St. Bernard Port publishes Economic Impact Assessment
CHALMETTE, La. The St. Bernard Port, Harbor and Terminal District has recently completed an Economic Impact Assessment. This analytical assessment determines how the port affects the economic activity of St. Bernard Parish.
The report measured the port’s impact using the methodology approach and gave a data analysis using the IMPLAN input-output (I-O) modeling approach. Explained in the Methodology section, “The I-O framework tracks how spending and productivity by the port, its tenants, and related activities circulate through the economy, generating business-to-business transactions and household expenditures.”
The port’s Executive Director, Drew Heaphy, expressed his approval of the study. “The port is excited to announce its economic impact study and share these results with the public.” He said. “The report highlights that more than 20% of the jobs located in St. Bernard stem from the Maritime and Industrial industry located at the St. Bernard facilities; something that we are proud to claim.”
The report was prepared by Faisal Mallum, Ph.D., of the University of New Orleans Transportation Institute, a research and education center supported by the U.S. Department of Transportation. This institute specializes in policy, planning, and transportation systems. Key points from the report include jobs, productivity, and the port’s contribution to Gross Regional Product (GRP).
“Findings from the report state that the St. Bernard Port, Harbor and Terminal District supports a substantial number of jobs and income. It directly provides 1,415 jobs and $183.2 million in output.” The report continues, “Accounting for the ripple effects of port spending on suppliers and household expenditures, the overall impact is 2,267 jobs (indirect and induced), $201.7 million in labor income, $237.2 million in Gross Domestic Product (GDP), and $332 million in total statewide output.”
The report provides a historical background, tables, and graphics to illustrate the port’s impact, and explains its role as one of the five major ports of Louisiana. The regional and national significance is also highlighted, with the report explaining: “…The port contributes to the backbone of America’s freight logistics, thereby improving the nation’s international commodity trade productivity by enhancing its competitiveness.”
“The study exemplifies the port’s far-reaching impact on the State of Louisiana and beyond.” Ross Gonzales, COO of the St. Bernard Port, said. “We will utilize this report to gauge continued growth.”
To view the report, click here: Economic Study
