Examine reveals financial affect of ports – WISH-TV | Indianapolis Information | Indiana climate
INDIANAPOLIS (Inside INdiana Business) – A new study shows that Indiana’s three ports contribute $ 8.2 billion a year to the Indiana economy. The study, conducted by Colorado-based Martin Associates and conducted every five years, says the Indiana ports support 51,000 jobs and generate more than $ 552 million in state and local taxes.
The study is based on 2019 data that measures jobs, incomes, corporate revenues and economic performance. Indiana Ports say the $ 8.2 billion figure is a 5% increase over the previous study.
Indiana’s three ports of Burns Harbor, Jeffersonville and Mount Vernon, according to the study, handled more than 16 million tons of cargo, including coal, iron ore, steel products and agricultural products.
“Maritime transportation is a huge part of our state’s economy,” said Vanta Coda, chief executive officer of Ports of Indiana, in a press release. “2021 looks like another strong year and we hope that international shipments will grow. Transport is all about bigger, better, faster; that is always our goal. Simply put, Ports of Indiana has been a longtime supporter of Indiana and will continue to play an important role in supporting our state’s economies, jobs, tax resources and communities. “
The Ports of Indiana predictively predicts it plans to invest $ 50 million in infrastructure improvements by 2025. The state’s port authority manages 2,800 hectares of land that houses more than 75 companies.
You can view the full report by clicking here.