New Study Quantifies the Impact of Port Milwaukee on the Local Economy
Port Milwaukee Generated Over $100 Million in Business Revenue in 2017, Significantly Contributed to Local Commerce and Employment
Port Milwaukee’s maritime cargo and vessel activity had a significant positive effect on the City and the region’s economy in 2017, a recently completed study has concluded. The study, commissioned by the marine shipping industry in partnership with U.S. and Canadian government agencies, concluded that Port Milwaukee sustained more than 1,300 local jobs and generated over $100-million in business revenue last year. This economic activity also produced more than $30-million in state and federal taxes.
The study was presented Thursday morning to the Milwaukee Board of Harbor Commissioners at its regularly scheduled meeting.
“Port Milwaukee’s mission is to promote economic activity by stimulating international trade and commerce,” newly installed Port Director Adam Schlicht said. “Today’s report shows that the Port’s efforts support local employment and local businesses. The success of Port Milwaukee as a major economic artery of our region is something we can build on.”
The report, entitled “Economic Impacts of the Port of Milwaukee” was completed this month by Martin Associates of Lancaster, Pa, a respected economic analysis firm that specializes in the maritime industry. Milwaukee’s report complements another recently released study of the entire Great Lakes-St. Lawrence Seaway navigation system, which demonstrated that maritime shipping produced $35-billion in economic activity in the United States and Canada last year.
Port Milwaukee is an economic entity of City government governed by the seven-member Board of Harbor Commissioners, a panel appointed by the Mayor and confirmed by the Common Council. It administers operations on the 467 acres that make up the Port. It promotes shipping and commerce throughout the region by providing access to domestic and international ships, rail, and over-the-road transportation.