Business, Freight News, Sea

Alabama’s Port Delivers $85 Billion in Value to State

[ October 27, 2022   //   Gary G Burrows ]

The Alabama Port Authority announced the results of its 2021 Economic Impact Study, which showed that the Port of Mobile, harbor-wide delivered $85 billion in value to the State of Alabama over the calendar year 2021. That study was conducted by Martin Associates.
Compared to the most recent study covering the calendar year 2019, these results show remarkable growth, including a 217% increase in overall economic impact, a 94% increase in jobs, and a 225% increase in tax revenues to the State and local governments.
“These numbers make it clear that the Port of Mobile is a tremendous asset to the State of Alabama. Economic activity at the Port radiates across the entire state – whether it’s auto manufacturing, agriculture, logistics, space and defense, forest products, energy, or any of the myriad of other industries that make Alabama great, every corner of the state sees some benefit from the Port’s work,” said John C. Driscoll, Director and CEO of the Alabama Port Authority. “We believe that the Port of Mobile is the most dynamic, compelling port in America, and as we look ahead to an expanded container terminal, a deeper and wider ship channel, intermodal rail, and inland ports, these numbers will only grow. While these results are a sign of the progress made to date, we know there is more room for growth in our future and look forward to continuing to deliver for our customers and the entire State of Alabama.”
The Martin Associates report, which analyzed the direct, indirect, and induced economic impacts of the Port of Mobile and the related private-sector port businesses for the 2021 calendar year, showed increased growth compared to 2019 in nearly every business line. The highest growth was in the container cargo, lumber, and liquid bulk sectors.

Tags: Alabama Port Authority