THE PORT OF VANCOUVER Prepared by: www.johncmartinassociates.com - PowerPoint PPT Presentation

ECONOMIC IMPACT OF THE PORT OF VANCOUVER Prepared by: www.johncmartinassociates.com Martin Associates 941 Wheatland Ave., Suite 203 September 24, 2019 Lancaster, PA 17603 1

Why Conduct Economic Impact Studies Community Public awareness Directors Legislature Allocation of Funding requests resources Why Conduct Economic Impact Studies? Planners Board Members Comparison of Project projects justification Government Officials Policy implications: Navigational projects Port closures 2

How the Port Impacts the Economy 3

Methodology Interviews with Indirect/ Port Induced Tenants/ Statistics Models Service Providers Sensitivity Analysis Economic Impact Model Baseline Impacts - Jobs - Income - Revenue - Taxes 4

24,068 Total Jobs Were Supported by Port of Vancouver in 2018 INDIRECT: 3,220 INDUCED: 3,209 RELATED: 13,729 Purchases by Goods/Services Importers/Exporters Food M&R Shelter Employees Equipment Transportation Utilities Medical Fuel Retail Insurance Apparel Purchases by Firms DIRECT: 3,910 Terminal Operators Terminal Construction Pilots Tugs Longshoremen Government Warehousing Trucking Agents Forwarders Rail Maritime Services Tenants Vessel Repairs 5

Cargo Tenants Supported Nearly 63% of Direct Jobs; Non- Cargo Tenant Jobs Supported the Balance 37% Distribution of 3,910 Total Jobs Supported by Direct Jobs The Port Port of Vancouver Jobs Supported By Jobs Port of Vancouver 1,452 Direct 3,910 Induced 3,209 Indirect 3,220 2,458 Related 13,729 Total Jobs 24,068 CARGO NON-CARGOTENANTS 6

Steel Supported 33% of Cargo Jobs Followed by Grain Supporting 20% Distribution of 2,458 Total Jobs Supported by Cargo Direct Jobs The Port Port of Vancouver Jobs Supported By Jobs Port of Vancouver 4.1% 3.0% 4.7% 5.9% Direct 2,458 32.7% 14.3% Induced 2,421 Indirect 1,274 14.9% 20.4% Related 13,729 Total Jobs 19,882 STEEL GRAIN NOT ALLOCATED AUTOS/RO-RO SCRAP PETROLEUM/OLB OTHER CEMENT 7

Industrial Operations Account for 60% of Non-Cargo Tenant Direct Jobs Distribution of 1,452 Total Jobs Supported by Industrial Direct The Port Jobs Port of Vancouver Jobs Supported By Jobs Port ofVancouver 6.5% Direct 1,452 32.6% Induced 787 60.8% Indirect 1,946 TotalJobs 4,186 INDUSTRIAL WAREHOUSE/DISTRIBUTION MISCELLANEOUS 8

Distribution of the 3,910 Direct Jobs by Job Category DIRECTJOBS AGENTS FORWARDERS SURVEYORS/CHANDLERS/MARITIMESERVICES WAREHOUSE TOWING/PILOTS BARGE GOVERNMENT PORT OFVANCOUVER MARINECONSTRUCTION ILWU RAIL TRUCK TERMINALOPERATIONS SHIPPERS/CONSIGNEES INDUSTRIALTENANTS 0 200 400 600 800 1,000 1,200 1,400 1,600 9

Cargo and Non-Cargo Tenant Activity at the Port of Vancouver Supported Nearly $3.76 Billion of Economic Value in 2018 Distribution of $955.2 Million Direct Total Economic Value Business Revenue Port of Vancouver Economic Value (Billions) $462.9 Direct Business $0.96 Revenue $492.4 RelatedEconomic $2.42 Output Re-spending/Local $0.39 Consumption TOTAL $3.76 CARGO NON-CARGO TENANTS 10

Cargo Activity at the Port of Vancouver Supported Nearly $3.2 Billion of Economic Value in 2018 Total Economic Value Distribution of $492.4 Million Direct Business Revenue Port of Vancouver Economic Value $16.7 $50.9 (Billions) $37.8 $18.5 $15.5 Direct Business $0.49 $28.1 Revenue RelatedEconomic $2.42 $84.1 $240.8 Output Re-spending/Local $0.32 Consumption TOTAL $3.2 STEEL GRAIN NOT ALLOCATED AUTOS/RO-RO SCRAP PETROLEUM/OLB OTHER CEMENT 11

Non-Cargo Tenant Activity at the Port of Vancouver Supported Nearly $530 Million of Economic Value in 2018 Distribution of $462.9 Million Direct Total Economic Value Business Revenue Port of Vancouver Economic Value $5.2 (Millions) $135.0 Direct Business $462.9 Revenue $322.7 Re-spending/Local $67.1 Consumption TOTAL $530 INDUSTRIAL WAREHOUSE/DISTRIBUTION MISCELLANEOUS 12

Port of Vancouver Seaport and Non-Cargo Tenant Activity Generated $71.4 Million of Direct, Induced and Indirect State and Local Taxes $71.4 Million of State/Local Taxes $0.3 $13.5 $57.6 WA OR OTHER 13

Changes Since 2014: 1.5 Million Ton Increase, Driven By Steel and Bulk Agri-Products $188.5 1,685 $16 Million Million Direct, State, Direct Induced, Local Business Indirect Taxes Revenue Jobs 14