Study shows increase in ports’ economic impact
INDIANAPOLIS (Inside INdiana Business) — A new study shows Indiana’s three ports contribute $8.2 billion per year to the Indiana economy. The study, which was conducted by Colorado-based Martin Associates and is done every five years, says the Ports of Indiana support 51,000 jobs and generate more than $552 million in state and local taxes.
The study is based on 2019 data measuring jobs, income, business revenue and economic output. The Ports of Indiana says the $8.2 billion figure is a 5% increase from the previous study.
According to the study, Indiana’s three ports, located in Burns Harbor, Jeffersonville, and Mount Vernon, handled more than 16 million tons of cargo, including coal, iron ore, steel products, and agricultural products.
“Maritime plays a large part in our state’s economy,” Ports of Indiana Chief Executive Officer Vanta Coda said in a news release. “2021 looks to be another strong year and we hope to see international shipments grow. Transportation is all about bigger, better, faster; that’s always our goal. Simply put, Ports of Indiana is a long-time supporter of Indiana and will continue to play a vital role in supporting our state’s economy, jobs, tax resources and their respective communities.”
The Ports of Indiana says looking forward, it plans to invest $50 million in infrastructure improvements by 2025. The state’s port authority manages 2,800 acres of land that houses more than 75 companies.
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