The American Association of Port Authorities (AAPA) has released its 2024 Port and Maritime Industry Economic Contribution Report which indicates that America’s ports are responsible for nearly $2.9 trillion in economic activity and one out of every eight jobs.
The report found that:
• The maritime industry, its consumer spending, suppliers, and port users support 21.8 million American jobs. That means the port and maritime industry supports more than one out of eight jobs in the total United States workforce.
• Total employment supported port and maritime activity is larger than the workforce in 90% of U.S. metropolitan areas.
• The average wage of a port and maritime employee is almost $100,000, which is 20% more than the average U.S. worker.
• The wages and benefits supported by ports and maritime activities totals almost $2.8 trillion.
• Ports’ contribution to U.S. Gross Domestic Product totals almost $2.9 trillion.
• More than $2.1 trillion, accounting for over 40% of the total value of U.S. goods, passed through a port.
Cary S. Davis, AAPA President and CEO, said: “In spite of a perfect storm of challenges, including a pandemic, major macro-economic and geostrategic pressures and increasingly protectionist political headwinds at home, the port industry remains an indispensable part of our nation’s supply chain as well as a dynamic catalyst for healthy growth and prosperity. That is exactly why federal government policymakers should continue making smart investments in our port system that will pay exponential dividends."
The report reflects insights and analysis from AAPA in collaboration with Congressional economists from Ernst & Young, using the nationally recognized IMPLAN model based on U.S. Government data from 2023. Thanks in part to a more comprehensive picture of the port industry, which includes additional cargo and business segments like cruise and liquid bulk, the number of direct jobs attributable to the industry has increased compared to previous studies.
