UGA study: Georgia Ports support more than 439,000 (total) jobs (9 percent of total state employment)
Brunswick, Ga. – March 26, 2018 – Georgia’s ports support 439,220 full- and part-time jobs across the state (693 in Elbert County), according to a study released by the Selig Center for Economic Growth at UGA’s Terry College of Business.
The Georgia Ports Authority board reviewed the study’s findings at its meeting Monday. The latest figure is based on Fiscal Year 2017 impacts, and represents an increase of 70,000 jobs (up 19 percent) compared to the previous report covering FY2014.
“The deepwater ports of Savannah and Brunswick are strong drivers of economic and employment opportunity across the state,” said Georgia Ports Authority Executive Director Griff Lynch. “Bringing jobs and investment to Georgia is a central part of GPA’s mission.”
According to the report, authored by Dr. Jeffrey Humphreys, port activity accounted for 11 percent of Georgia’s total sales in FY2017, reaching $106 billion. “Deepwater ports are one of Georgia’s strongest economic engines, fostering the development of virtually every industry,” Humphreys stated in the report. “The ports are especially supportive of other forms of transportation, manufacturing, wholesale and distribution centers, and agriculture.”
The Terry College of Business study found that maritime trade amounts to $44 billion in state gross domestic product, or 8 percent of Georgia’s total GDP. Business conducted through the ports resulted in $5.9 billion in federal taxes, $1.4 billion in state taxes and $1.5 billion in local taxes, according to the report.
“The findings are a testament to the powerful, positive impacts that trade through Georgia’s ports have – supporting not only business opportunity, but important infrastructure and services funded through tax proceeds on every level of government,” said GPA Board Chairman Jimmy Allgood.
Georgia’s deepwater ports and inland barge terminals support more than 439,000 jobs throughout the state annually and contribute $25 billion in income, $106 billion in revenue and $2.9 billion in state and local taxes to Georgia’s economy. The Port of Savannah handled 8.5 percent of U.S. containerized cargo volume and 10 percent of all U.S. containerized exports in FY2017.
For more information, visit gaports.com