Economic Impacts: Cleveland
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Study Finds Port of Cleveland Producing $3.5 Billion in Annual Economic Value
A newly released study on the Local and Regional Economic Impacts of the Cleveland Harbor found that maritime commerce in Cleveland produces more than $3.5 billion of total economic value annually for Northeast Ohio.
The study further notes that maritime activity associated with the port supports 20,000 jobs, including more than 4,000 direct jobs in the region, an increase of more than 10 percent from a similar study performed in 2011. More than 13 million tons of cargo is shipped annually through the Port of Cleveland.
"The new impact report makes it clear that the Port of Cleveland and maritime trade is truly an economic driver for Northeast Ohio," said Will Friedman, the port’s president. "It also shows that our recent strategic investments in our marine terminals and services are paying off, growing the total value of maritime activity by $1 billion, almost a 30 percent increase, to $3.5 billion since our last analysis."
Mr. Friedman cited the creation of the Cleveland-Europe Express (CEE) container shipping service as a key factor in the port’s recent growth.
A newly released study on the Local and Regional Economic Impacts of the Cleveland Harbor found that maritime commerce in Cleveland produces more than $3.5 billion of total economic value annually for Northeast Ohio.
The study further notes that maritime activity associated with the port supports 20,000 jobs, including more than 4,000 direct jobs in the region, an increase of more than 10 percent from a similar study performed in 2011. More than 13 million tons of cargo is shipped annually through the Port of Cleveland.
"The new impact report makes it clear that the Port of Cleveland and maritime trade is truly an economic driver for Northeast Ohio," said Will Friedman, the port’s president. "It also shows that our recent strategic investments in our marine terminals and services are paying off, growing the total value of maritime activity by $1 billion, almost a 30 percent increase, to $3.5 billion since our last analysis."
Mr. Friedman cited the creation of the Cleveland-Europe Express (CEE) container shipping service as a key factor in the port’s recent growth.
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