Written by
Heather Ervin
Credit score: Ports of Indiana
Transport on Lake Michigan and the Ohio River delivers an financial impression of greater than $29.8 billion yearly to Indiana’s financial system and helps greater than 158,000 jobs, in accordance with a newly-released examine.
“Indiana’s development and affect on America’s inland maritime transportation continues unabated,” mentioned Gov. Eric Holcomb. “The financial impacts of maritime transport on Indiana’s financial system are actually spectacular, they usually underscore the significance of the Nice Lakes and Ohio River to our world attain. Our ports and waterways take Indiana to the world and convey the world to Indiana.”
The examine discovered that the state shipped 54.4 million tons of maritime cargo in 2022, offering $11.5 billion in private revenue for 158,143 jobs, and $1.9 billion in tax {dollars} to state and native governments. The report was ready by Martin Associates, an internationally acknowledged financial and transportation consulting agency, which has carried out greater than 1,100 financial and planning research for main ports in North America and internationally. Click on right here to view the financial impression examine for Indiana’s maritime business.
“Indiana is residence to a strong maritime financial system with three state ports and greater than 90 cargo terminals that ship essential cargoes all over the world,” mentioned Dr. John C. Martin, founder and president of Martin Associates. “The state’s maritime capabilities on Lake Michigan and the Ohio River present important connections to regional and worldwide markets whereas additionally offering jobs and financial help for native communities.”
In keeping with information from the U.S. Military Corps of Engineers, the state ranks 12th nationally in maritime transport. Martin’s regional evaluation discovered that Indiana’s 43 miles of Lake Michigan shoreline is chargeable for 57% of the U.S. Nice Lakes transport financial system, and 42 % of the mixed U.S.-Canadian Nice Lakes transport financial system.
The Northern Indiana Port District ships 30.2 million tons per yr, which ranks because the 20th largest port within the nation and generates $16.6 billion in annual financial impacts.
The Southern Indiana Port District, comprised of the 13 counties alongside Indiana’s 356 miles of Ohio River frontage, ships 24.2 million tons per yr, which ranks No. 1 amongst all U.S. inland ports, and generates $13.3 billion in annual financial impacts.
Martin Associates’ evaluation included 143 interviews with Indiana-based maritime terminals, industrial tenants, and repair suppliers. The agency additionally just lately accomplished two separate financial research associated to Ports of Indiana’s three ports and the Nice Lakes and St. Lawrence Seaway ports.
“Many individuals within the Midwest don’t understand how necessary maritime transport is to our financial system,” mentioned Ports of Indiana CEO Jody Peacock. “For many industries, transport cargo by water creates main financial, environmental, and public advantages. Due to Indiana’s distinctive waterway entry, we are able to ship cargoes by way of the Nice Lakes, inland rivers, and Gulf of Mexico on to the Atlantic Ocean, which is a large financial benefit.”
