New Economic Impact Study Finds That the Port of Goderich Supports More Than 2,700 Jobs and $397.9 Million in Economic Activity
GODERICH — According to a new study, activity of the Port of Goderich supports 2,774 jobs. In addition, the study found that maritime commerce on the waterway in 2017 supported $397.9 million in economic activity, $57.5 million in annual personal income, and $76.2 million in federal and province tax revenue.
The comprehensive study, “Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region” was commissioned by the marine shipping industry in partnership with government agencies, including the St. Lawrence Seaway Management Corporation, the Chamber of Marine Commerce, Transport Canada and more.
“This report solidifies Goderich’s position as a major contributor of commerce on the Lakes and recent expansion will only serve to boost further economic impacts for the municipality,” said Rowland Howe, President of the Goderich Port Management Corporation. “Recent development improves and diversifies cargo capabilities and positions us to move into future planned development once further investments are secured.” “While there has been consistent interest in the Port, the shortage of land has been a barrier to increased industrial development. We are now in a position to encourage further industrial development on the expanded port, and hope to move forward to approaching senior levels of government in an effort to identify a supporting financial partner for the up to $40 million of required investment for an additional 15 acres of land,” says Larry McCabe, Chief Administrative Officer for the Town of Goderich. The study measured the effects of cargo movements in 2017 at Great Lakes ports, including employment, personal income, business revenue, local purchases, and federal, provincial, and local taxes. Locally, 788 jobs were directly generated at the marine terminals at the Port of Goderich and another 1,423 of induced jobs contributed to the local economy. In 2017, ports and marine terminals on the Great Lakes Seaway System handled 285 million metric tons of cargo valued at $15.2 billion. This cargo included grain, iron ore, coal, manufactured iron and steel products, heavy lift/ project cargoes, and salt. The local data is attached and the full study can be found here. The study, which uses 2017 data was carried out by respected economic consultants Martin Associates of Lancaster, Pennsylvania. Martin Associates was retained to perform this analysis by a coalition of U.S. and Canadian Great Lakes and St. Lawrence marine industry stakeholders.
A steering committee including the Saint Lawrence Seaway Development Corporation (U.S.), The St. Lawrence Seaway Management Corporation (Canada), the American Great Lakes Ports Association, the Chamber of Marine Commerce, the Lake Carriers’ Association, the Shipping Federation of Canada, Transport Canada, the St. Lawrence Economic Development Council (SODES), and the St. Lawrence Ship Operators Association provided confidential data, guidance and oversight for this study.