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Jobs Growing at the Port of New York and New Jersey

Jobs Growing at the Port of New York and New Jersey

WASHINGTON, D.C -- A recently released study indicates that container traffic at the Port of New York and New Jersey jumped 24 percent, bringing with it a corresponding increase in jobs, individual and business revenue and local, state and federal tax revenues. Other cargo sectors were increased during the study period of 2014 – 2016. One of the primary enablers of this surge in commercial activity undoubtedly is the now-completed 20-year Harbor Deepening Project, funded by the Appropriations Committee.

“Our Port is the economic engine for northern New Jersey,” said Rep. Rodney Frelinghuysen (NJ-11), the chairman of the House Appropriations Committee. “Ninety percent of global trade moves by ship, so I made it one of my highest priorities in Congress to ensure the Port of New York and New Jersey, the largest on the East Coast, remains the most attractive destination for international trading partners.  This study shows that our efforts are paying off for our state!”

Through his work as the only New Jersey member of the Appropriations Committee and past Chairman of the Energy and Water Development Subcommittee, Frelinghuysen secured hundreds of millions of federal dollars for the Harbor Deepening Project since its authorization in 1997.  By dredging the main channel to a depth of 50 feet and raising the deck on the Bayonne Bridge, the Port can accommodate the newest container ships, which sail along the U.S. East Coast now that the upgraded Panama Canal has opened to the world’s largest ships. 

According to the report, compiled jointly by the New York Shipping Association and the North Jersey Transportation Planning Authority, the Port accounted for nearly $8.5 billion in federal, state and local tax revenue last year and supported more than 400,000 jobs, up 20 percent over the two-year study period.  Port businesses and agencies employ 229,000 workers and support another 171,000 indirect jobs. The jobs include longshoremen, truckers, shipping clerks, mechanics, warehouse workers, tug boat operators, police and inspectors, and others.

In addition, the port industry was responsible for $25.7 billion in personal income and $64.8 billion in business income, up 21 percent for the period.

According to the report, New Jersey accounted for the greatest number of port jobs with 200,350 and total jobs with 344,470. The state also was responsible for the bulk of the taxes generated by the port industry with nearly $7 billion in federal, state and local revenue, which included more than $2.2 billion in local and state taxes and $4.8 billion in federal taxes.

“The Harbor Deepening project was a great example of how creative forward thinking and public-private partnerships can provide benefits for our region for years to come,” said Frelinghuysen. “We’re beginning to reap real rewards.”

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Read a summary of the report here: http://nysanet.org/wp-content/uploads/PressReleaseNYSAEconomicImpactStudyV02.pdf