Port dredge case ‘positive’

Published: Thursday, January 30, 2014 at 03:08 PM.

“It’s a positive number,” Lewis said of the ROI estimates. “This is actually a very positive number. The state is looking at roughly $5 for every $1 of investment, so this is right there.”

The ROI aimed to quantify the output and revenue from an operational port and to do so, Lewis said, researchers looked at similar scenarios at other ports.

Specifically, it focused on the economic impacts of a $25 million dredging project combined with $5 million in state-funded improvements to the Genesee-Wyoming rail line; the impacts from the cargo loads shipped through the port from Green Circle and Enova; additional indirect impacts of new port operations and rail employment to haul the wood pellets.

The team examined operations and financial impacts at ports such as Panama City, Canaveral, Jacksonville, Olympia, WA, all the ports of Georgia, Everglades, Wilmington, DE as well as averages for all ports in the US.

Researchers quantified the impacts per 1,000 shipping ton; examining direct jobs generated, total jobs, user jobs as well as tax revenue and cargo loads.

Direct jobs, Lewis explained, are those jobs dependent on an operational port and which would relocate if the port was not operational.

User jobs are those created by factory operations tied to shipping through an operational port, such as at Green Circle and Enova.

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