Rapid growth in ship traffic and cargo tonnage in recent years has dramatically increased the overall economic impact benefits generated by the Port of Port Lavaca-Point Comfort.
A new study reports that the public and private marine terminals on the Matagorda Ship Channel generate more than 16,000 jobs in Calhoun County and the surrounding region. It also found that the port and ship channel generated annual business revenues of' nearly $2 billion in 2004.
The Matagorda Ship Channel is the nation's 25th busiest waterway according to recent data published by the U.S. Army Corps of Engineers. Cargo tonnage on the channel grew 64 percent in 10 years - from 7.4 million tons in 1994 to 12; 1 million tons in 2004, Ship traffic at the port's public docks grew from 105 vessels in 1995 to 252 in 2004 - an increase of 140 percent.
The economic impact study by Martin Associates of Lancaster, Pa., finds that the port is an important economic catalyst for the region surrounding Calhoun County. The study looked at marine cargo activity in the year 2004 and the findings are based on interviews with 246 firms connected in some way to the terminals along the channel.
The study concluded that 16,582 jobs are dependent on business activity related to the Port of Port Lavaca-Point Comfort and the Matagorda Ship Channel with an impact of $988 million a year in overall personal income.
Approximately 5,300 direct jobs are generated by port-related activity including manufacturing, transportation, construction and services. As a result of purchases by those holding the direct jobs, an additional 4,590 induced jobs are supported in the regional economy. An estimated 6,700 indirect jobs are also dependent on the seaport.
Port-related business activity generates $88 million a year in taxes paid to state and local governments and about $178 million in federal taxes.
The study found that port-related -businesses generated $2.0 billion in annual revenues, excluding the value of cargo shipped through the marine terminals. Another $338 million of indirect revenue was generated with local suppliers of goods and services of firms directly dependent upon cargo activity.
Port Director Robert H. Van Borssum said the study confirms the growing local and regional economic importance of the 22 mile long Matagorda Ship Channel which was first opened to deep-draft shipping in the earl 1960s.
"The information provided in the Martin report is extremely valuable Calhoun Port Authority as we compete with other public port authorities for federal funding of deep-draft channel projects," he said. ''Thousands of families depend on the industries and facilities that are located on the Matagorda Ship Channel for their livelihood. Getting the funds necessary to maintain and expand this economically vital waterway is a continuing challenge.”
The Port Authority must seek federal funding for periodic maintenance dredging to maintain the channel's 36-foot operating depth. It must also seek federal funds for needed rehabilitation of the channel jetty system and for future widening and deepening of the channel that will allow the port to safely handle larger vessels.
Principal commodities moving on the Matagorda Ship Channel include chemicals, fertilizers, petroleum products, bauxite, alumina and seafood products.
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