Port Economic Impact

Sunday, 25 January 2009 01:29

Port-related activities generate $10.5 billion in Gross Domestic Product (GDP), $22 billion in economic output and $6.1 billion in wages.

Port Metro Vancouver released a study in November 2008 prepared by InterVistas Consulting Inc. that confirms Port activities generate 132,700 jobs, $10.5 billion in GDP. As the first study to assess the economic impact of the amalgamated port, the study also concluded that Port-related activities generate $10.5 billion in Gross Domestic Product (GDP), $22 billion in economic output and $6.1 billion in wages.

The amalgamated Port Metro Vancouver jurisdiction borders on 16 municipalities and covers 600 km of shoreline extending from Point Roberts at the Canada/U.S. border through Burrard Inlet to Port Moody and Indian Arm, and from the mouth of the Fraser River, eastward to the Fraser Valley, north along the Pitt River to Pitt Lake, and includes the north and middle arms of the Fraser River. The Port hosts the operation of 28 major marine terminals and several domestic intermodal terminals.

The port’s main sectors of direct employment include maritime cargo and the cruise industry. Across Canada, the maritime cargo sector generates $2.2 billion in wages, while the cruise industry accounts for 5,700 direct jobs with a payroll of $200 million. Overall, the value of cargo shipped through the port annually is $75 billion.

Port Metro Vancouver is Canada’s largest and North America’s most diversified port, trading $75 billion in goods with more than 130 trading economies annually. Port activities generate 132,700 total jobs across Canada, $10.5 billion in GDP and $22.2 billion in economic output.

For a copy of the 2008 Port Metro Vancouver Economic Impact Study.