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Economic Impact
The Economic Contribution of the Public Ports of Indiana
In 1999 Indiana's three public ports contributed approximately $1.452 billion in economic activity to state development. Indiana's ports are a leading factor in spurring job growth and economic stimulus for Hoosiers. Not to mention they play a leading role in the success of the inland waterway system that affects maritime commerce worldwide.
In 2001, the Center for Urban Policy and the Environment of Indiana University released a study entitled "The Economic Contribution of the Public Ports of Indiana." The study illustrates the significant economic stimulus Indiana has enjoyed from the success of each of its public ports. Below you will find an introduction to that study. To view a PDF version of the complete study, visit the Publications section of this website's Newsroom or
click here.
EXECUTIVE SUMMARY
The public ports of Indiana represent many benefits to the citizens and economy of the state. The influence of the ports includes their contributions to local communities and economies through tax revenues, the attraction of firms, and the creation of jobs in and around Portage (Burns Harbor/Portage), Jeffersonville (Clark Maritime Center), and Mt. Vernon (Southwind Maritime Center). Administered by the Indiana Port Commission, the ports also contribute to the state economy as an economic resource, an employer of Indiana citizens, an important transportation conduit and hub, and a source of tax revenue.
The Indiana Port Commission, created by the state legislature in 1961, is charged with developing and managing the public ports in a manner that promotes "the agricultural, industrial, and commercial development of the state... ." In 1999, the firms and operations at the three public ports managed by the Indiana Port Commission contributed approximately $1.452 billion of economic activity to the development of the state. The activities of the ports also contributed:
- over $398 million in wages for Indiana workers
- an estimated 10,503 direct and indirect jobs
- over $22 million in tax revenue for the state of Indiana
- nearly $1.4 million in local property taxes
- an additional $54 million of economic impact attributable to publicly funded construction projects completed in 1999.
INTRODUCTION
The Indiana Port Commission is entrusted by the citizens of Indiana to manage and develop public port facilities in keeping with statutory purposes and the principles of public stewardship. Its mission is to provide the services requisite for the continuation and enhancement of maritime-related commerce, among which are: continued enhancement of port infrastructure, foreign trade zone development, domestic and international marketing, and facilitating industry and commerce utilizing the three public ports for import/export and manufacturing. To this end, the commission endeavors to make certain that agency activities are made economically self-supporting by generating revenue sufficient to achieve the widest and fullest realization of the ports' potential. The commission's efforts are undertaken entirely for the benefit of the citizens of Indiana in partnership with state government.
The Indiana Port Commission was created by the state legislature in 1961 and was charged with developing and managing the public ports in a manner that promotes "the agricultural, industrial, and commercial development of the state... ." As a part of its commitment to achieve this goal, the Indiana Port Commission has sought to document and quantify the contributions of the three public ports to the economy of Indiana.
This report is the third in a series developed by the Indiana University Center for Urban Policy and the Environment for the Indiana Port Commission since 1994. This series of reports provides a collection of data that serve both as a benchmark to measure and record the public ports' historical contribution to Indiana's economy and as a basis from which to refine and develop strategies to optimize the economic value of the ports in Indiana's agricultural, industrial, and commercial development.
Indiana's three public ports continue to be increasingly valuable assets to the state's economy. The total economic impact of Indiana's public ports has grown from $325 million in 1993 to over $1.4 billion in 1999. This dramatic increase is attributable to a variety of factors, including significant employment growth and an increased number of firms at Clark Maritime Center; growth in wages at Indiana's International Port and a resurgent economy in Northwestern Indiana; the attraction of Bristol-Meyers Squibb to Southwind Maritime Center; and an ongoing, long-term infrastructure improvement program. To place this growth in perspective, Indiana's Gross Domestic Product grew from $141,895 billion in 1994 to $174,433 billion in 1998.
To view a PDF of the complete study, visit the Publications section of this website's Newsroom or
click here.
To receive a printed study by mail, contact the Ports of Indiana.
Phone: (317) 232-9200 or Email: info@portsofindiana.com
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