The new analysis is part of a wider study carried out by economic consultants Martin Associates that revealed in October the economic value of the entire bi-national Great Lakes-Seaway System and its more than 100 ports.
The Port of Hamilton statistics, which include cargo carried to and from the port by U.S., Canadian and international ships, revealed:
Jobs
Of the 98K jobs created in Canada by activity of the Great Lakes St. Lawrence Seaway, almost 40% (38K) are created by the activity in the Port of Hamilton which includes 16,482 jobs directly generated by maritime & port activity in Hamilton
Those jobs provide $1.7 billion in personal income
Drives $1.7 billion in local purchases
Economic Activity
The economic activity generated by the Port of Hamilton totals over $5.9 billion or 37% of the Canadian activity generated by the Great Lakes St. Lawrence Seaway
In addition, Provincial and Federal taxes created by the economic impact of the Port of Hamilton total over $700 million
Bruce Wood, president and CEO of Hamilton Port Authority, said: “The value of the Port of Hamilton cannot be emphasized enough. The importance of this study highlights the fact that the Port is a strong economic driver of the Ontario economy. The Port of Hamilton is growing rapidly with 76 new contracts signed in the last few years. Over $200M in new investments means prosperity for Ontario families.”
As these numbers illustrate, thousands of jobs are dependent on the cargo that is transported in and out of our Port. These jobs range from terminal operators and cargo handlers to steel production jobs that are dependent on the raw materials that are transported to their facilities via ships. The personal income and business revenues spent on goods and services also support thousands of other jobs in restaurants and shopping centres as well as business suppliers and professional service firms in our communities.”
As the busiest port on the Great Lakes-Seaway navigation system, the Port of Hamilton plays an integral role in supporting trade between Canada and the U.S. as well as overseas destinations. Agriculture, salt, petroleum, steel and break bulk commodities such as windmill blades and beer vats are just some examples of commodities moving through the Port of Hamilton.
The HPA will continue to grow the prosperity of the port and region. This will be accomplished by continuing with the current land and water diversification strategy launched in 2008, engaging new industries and increasing the multimodal capacities at the Port.