TOLEDO, Ohio, December 14, 2011
– The Toledo-Lucas County Port Authority and The Saint Lawrence Seaway Development Corporation today jointly released a new Port of Toledo Economic Impact Study which indicates that the Port of Toledo generates nearly 7,000 jobs, and vessel and cargo activity creates more than $1billion in economic impact.
The study, The Economic Impacts of the Port of Toledo, was undertaken by Martin Associates of Lancaster, Pennsylvania and looked at the effect of marine cargo activity at the Port of Toledo and throughout the Great Lakes-St. Lawrence Seaway System. The authors conducted hundreds of interviews and used various economic models to reach their conclusions. The Port of Toledo study is based on another study released earlier this year regarding the economic impact of Great Lakes Ports.
Click here to view the Port of Toledo's Economic Impact Study
“The results of the Economic Impact Study clearly show the positive impact of our seaport’s operations to the northwest Ohio region,” said Paul Toth, President and CEO of the Toledo-Lucas County Port Authority. “Thousands of people are employed directly or indirectly as a result of Toledo’s robust cargo handling operations. This includes not only dock workers, but also jobs with railroad and trucking companies, steamship agents, freight forwarders and many others.”
The report indicates nearly 7,000 jobs in Ohio are supported by cargo moving via the marine terminals located at the Port of Toledo. Personal income from those jobs measures at more than $558 million. Business revenue directly related to the cargo activity at the Port of Toledo adds up to more than $381 million and local purchases by individuals and businesses directly dependent on the seaport are close to $173 million.
“The Port of Toledo plays an important role in the maritime commerce in Ohio and in the Great Lakes-St. Lawrence Seaway System,” said Collister Johnson, Administrator of The Saint Lawrence Seaway Development Corporation (SLSDC). The Port of Toledo has specialized handling equipment and facilities, which further enhances the value of this unique shipping connection. Toledo’s port expansion, along with their recent investments in infrastructure and equipment are indicators of the Port Authority’s commitment to utilizing the Seaway to move North American products to customers around the world.”
Also unveiled today were two new locomotives purchased by Midwest Terminals of Toledo for the purpose of internal switching. The locomotives compliment other significant equipment acquired to modernize operations at the Port of Toledo. Over the past two years the Port Authority has acquired two new Liebherr LHM 280 mobile harbor cranes, a new Mantsinen 200 material handler and a new dry bulk conveyor. The new Liebherr cranes are the only twin cranes of this type in operation at any U.S. Great Lakes Port and are also more fuel-efficient, using only 25% of the fuel expended by the previous cranes. The new Mantsinen 200 material handler is the largest material handler of its type in North America and the new dry bulk conveyor is capable of loading 1000-1500 tons per hour depending on commodity. The new equipment has been acquired to assist port operations in the handling of bulk, break bulk, project cargo and containers.
The economic impact results of the Port of Toledo further support recent legislation introduced by Senators Rob Portman of Ohio and Debbie Stabenow of Michigan - called the Great Lakes Short Sea Shipping Enhancement Act of 2011. Passage of the bill would create a narrow exemption to the Harbor Maintenance Tax - a federal tax imposed on shippers - for cargo transported through the Great Lakes-St. Lawrence Seaway System. Because the tax is only assessed on waterborne cargo, it serves as a disincentive to move freight by ship, indirectly placing greater demand on the region's already congested highways. Removing this disincentive will help to spur economic growth through the expansion of regional shipping services between ports on the Great Lakes. Short Sea Shipping legislation (H.R. 1533) has also been introduced in the House of Representatives by Congressman Pat Tiberi of Ohio. That bill now enjoys the support of 31 cosponsors, including Ohio Representatives Marcia Fudge, Marcy Kaptur, Dennis Kucinich, Steve LaTourette and Betty Sutton.
Earlier this year the Toledo-Lucas County Port Authority was awarded its 11th Robert J. Lewis Pacesetter Award from the SLSDC for growth in international cargo during a single season in 2010. The Port of Toledo registered nearly 4.8 million metric tons of overseas cargo through the St. Lawrence Seaway during the 2010 navigation season, over 16 percent more than in the 2009 season. In total, the Port of Toledo registered more than 9.8 million metric tons for the entire season via 576 vessel calls.
The Port of Toledo is well positioned as an inland distribution point for North American commerce and is home to 15 terminals including the Toledo Shipyard - one of the only U.S. full service shipyards with graving docks on the lower lakes. Recent property acquisitions have more than doubled the size of the seaport - making it the largest land mass seaport on the Great Lakes.
It is the mission of the Toledo-Lucas County Port Authority to continuously leverage our strategic geographic position, resources and economic development proficiency to provide increased business opportunities—built upon and around our innovative transportation and logistics expertise—while promoting our community and region within the global marketplace. We will accomplish this through unmatched speed and efficiency of service, collaborative and strategic partnerships, community stewardship and the continued generation and execution of new ideas and innovations. www.toledoportauthority.org --- 419-243-8251