Missouri Ports: Cornerstone of the Sate s Economy

Transcription

1 Missouri Ports: Cornerstone of the Sate s Economy Project Overview and Findings presented to ITTS Conference presented by Cambridge Systematics, Inc. Paula Dowell, Ph.D. May 22,

2 Missouri is Home to Robust Network of Public Ports 12 PUBLIC PORT TERMINALS 1,050 INLAND WATERWAY MILES RANKS 10 th IN THE NATION 2

3 What the Study Includes Overview of port traffic Benchmarking importance of water transportation in Missouri Port user profile Economic significance of ports 3

4 4 Million Tons and Growing Million Tons IN 2016 MISSOURI PUBLIC PORTS MOVED 4M TONS OF FREIGHT EQUIVALENT TO NEAR 100K TRUCKS AN INCREASE OF 78% SINCE

5 Top 10 Waterborne Commodities in MO Food Manufacturing, 881 All others, 2,438 Nonmetallic Mineral Product Manufacturing, 1,721 Mining (except Oil and Gas), 6,055 Crop Production, 4,015 Chemical Manufacturing, 4,513 5

6 Industry Dependence on Ports Total Waterborne Freight Share by Volume Missouri National Chemical Manufacturing Crop Production Primary Metal Manufacturing Mining (Except Oil and Gas) Nonmetallic Mineral Product Manufacturing Transportation Equipment Manufacturing Nondurable Manufacturing Construction Food Manufacturing Oil and Gas Extraction Manufacturing (Excludes Food Processing) Petroleum and Coal Products Manufacturing Health and Personal Care Stores and Health Care and Social Assistance Utilities Waste Management and Remediation Services 0% 5% 10% 15% 20% 6

7 Missouri s Port Users PORT DEPENDENT CROP PRODUCTION & MINING CHEMICAL MANUFACTURING FABRICATED METAL PRODUCT MANUFACTURING TRANSPORTATION EQUIPMENT MANUFACTURING NON-METALLIC MINERAL PRODUCT MANUFACTURING PRIMARY METAL MANUFACTURING PORT BENEFITED CONSTRUCTION OF BUILDINGS MACHINERY MANUFACTURING HEAVY AND CIVIL ENGINEERING CONSTRUCTION PLASTICS AND RUBBER PRODUCTS MANUFACTURING COMPUTER AND ELECTRONIC PRODUCT MANUFACTURING 7

8 Transportation Equipment Establishments in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 8

9 Transportation Equipment Manufacturing in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 9

10 Chemical Establishments in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 10

11 Chemical Manufacturing in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 11

12 Fabricated Metal Manufacturing Establishments in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 12

13 Fabricated Metal Manufacturing Employee in Missouri Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 13

14 Estimating Economic Impact of Ports DIRECT IMPACTS Jobs, output, investment, taxes MO Ports INDIRECT IMPACTS Jobs, output, investment, taxes Port-Dependent Users in MO Port-Benefited Users in MO INDUCED IMPACTS Spending and respending by direct and indirect employees MO Suppliers MO Employees MO Suppliers MO Employees TOTAL IMPACTS Employment, output, income, and tax revenue 14

15 Direct Impact of Marine Transportation in Missouri Sector Total Employment Average Weekly Wage Average Annual Income Impact Inland Water Transportation Water Transportation Support Activities 410 $1,234 $26.3M 660 $1,262 $43.3M Total 1,070 $1,248 $69.4M Source: U.S. Bureau of Labor Statistics (2016). 15

16 Indirect Impact of Port Users PORT-DEPENDENT INDUSTRIES SUPPORT 110,000 jobs FOR MISSOURI RESIDENTS, GIVING RISE TO PORT- BENEFITTED INDUSTRIES SUPPORT 97,500 jobs $5 billion $4.7 billion IN ANNUAL INCOME. AND IN ANNUAL INCOME. Source: BTS, Reference USA (2016), U.S. Census (2015). Cambridge Systematics, Inc. 16

17 Total Economic Impact of Ports in Missouri MISSOURI PUBLIC PORTS SUPPORT NEARLY 290k JOBS ANNUALLY $15.7B IN LABOR INCOME $100.6B IN ECONOMIC ACTIVITY 34% OF MISSOURI'S ECONOMY IS SUPPORTED BY PORTS GIVING RISE TO MORE THAN $2.4B IN STATE & LOCAL TAX REVENUE 17

18 Key Takeaways Missouri s public ports are essential for some of the State s most critical industries $8.7M in state funding for capital investment in public port network since 2014 has led to over $18.6M in private investment Modest investments in public ports can yield significant returns Ports are vital to Missouri s economy and ability to compete globally 18