Georgia's deepwater ports generate jobs, income for state

GEORGIA's deepwater ports are expected to remain one of the state's strongest economic engines, according to the results of a study conducted by the Georgia Ports Authority (GPA).

GPA's executive director Curtis Foltz said, "The fundamental finding of this study is that the state's strategic decisions to invest in our two deepwater ports have contributed to substantial economic activity in Georgia."

The study entitled, "The Economic Impact of Georgia's Deepwater Ports on Georgia's Economy in FY2009," reveals that even during one of the worst recessions since the Great Depression, Georgia's ports sustained jobs and increased its economic impact for the state. The study was conducted by the Terry College of Business at the University of Georgia based on statistics from July 1, 2008 through June 30, 2009.

"The outstanding performance of Georgia's deepwater ports reflects strong competitive advantages that allowed it to expand its market share," said GPA's chairman of the board Stephen Green.

According to the study, Georgia's deepwater ports support 295,422 jobs, nearly seven per cent of Georgia's total employment. This means that one job out of every 15 in Georgia is in some way dependent upon its ports.

"These economic impacts demonstrate that continued emphasis on imports and exports through Georgia's ports translates into jobs, higher incomes, greater production of goods and services and revenue collections for government," said Dr Jeffrey Humphreys, director of the Selig Centre at the Terry College of Business.

(Source:www.schednet.com)