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Study: NJ's port industry accounts for 344,470 jobs last year

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The Port of Newark.
The Port of Newark. - ()

The port industry continues to be one of the state's largest economic engines, as it was responsible for $25.7 billion in personal income and $64.8 billion in business income last year.

According to a study by the New Jersey Transportation Planning Authority, the industry directly employs roughly 229,000 workers and supports another 171,000 jobs tied to the port industry, such as import/export jobs. That figure is up nearly 20 percent since 2014, according to the study. One of New Jersey's largest ports - the Port of Newark, accounted for much of this growth.

New Jersey accounted for the greatest number of both direct jobs with 200,350 and total jobs with 344,470. The state also was responsible for the bulk of the taxes generated by the port industry with nearly $7 billion in federal, state and local revenue, which included more than $2.2 billion in local and state taxes and $4.8 billion in federal taxes.

Additionally, the Port Industry of New York and New Jersey accounted for nearly $8.5 billion in federal, state and local tax revenue and supported 400,000 jobs in the New York, New Jersey and Pennsylvania region, according to a study by the New York Shipping Association. In total, PINYNJ represents 31 counties in those states.

As a result of this growth, the region’s maritime facilities handled up to 2014 from 2012:

  • Nearly 6.3 million 20-foot equivalent containers (TEUs), up from 5.8 million;
  • Close to 663,000 vehicles;
  • 47.4 million tons of bulk cargo, up from 42 million;
  • Nearly 140,000 tons of breakbulk cargo, up from nearly 110,000;
  • 260 cruise vessels.

“The significant economic contribution the Port of New York and New Jersey makes to this region has been demonstrated once again. The cargo and passengers that move through our ports provide a substantial benefit to the region in terms of jobs and tax dollars and those benefits continue to grow,” ,” said John Nardi, president of the New York Shipping Association. 

“The billions of dollars we’ve invested to raise the Bayonne Bridge, deepen port channels and expand our on-dock rail capacity have made this an attractive place for international shippers to do business and provided a substantial boost in the jobs and economic activity supported by this port,” said Molly Campbell, the Port Authority of New York and New Jersey’s port department director, in a press release. “Our goal is to continue to invest in infrastructure that will make this port the most attractive place for shippers to do business.”

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Vince Calio

Vince Calio

Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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