North Carolina’s ports in Wilmington and Morehead City contribute about $15.4 billion to the state’s economy every year, according to a recent study.
The 2018 Economic Impact Study was conducted by the Institute for Transportation Research and Education at N.C. State University, stated a news release from the ports Thursday afternoon.
The economic contribution calcluation is based on goods moving through the ports, with $12.9 billion attributed to the Port of Wilmington and $2.5 billion attributed to the Port of Morehead City, according to the release.
“At North Carolina Ports, we pride ourselves on being an economic engine for the entire state. Our ports in Wilmington and Morehead City play a critical role in supporting industries across North Carolina including agriculture, manufacturing, retail and so much more,” said Paul J. Cozza, NC Ports executive director, in the announcement.
The ports directly and indirectly support 87,700 jobs across the state, according to the release. The study showed that the majority of the employment contribution stems from activity at the Port of Wilmington, with more than 59,200 jobs.
"The updated economic impact study also shows NC Ports contributes $687 million in annual local and state tax revenue. The county property tax related to activity at the Port of Wilmington is over $192 million and over $32 million at the Port of Morehead City," the release stated. "Activity at both ports resulted in more than $343 million in business sales tax collections across North Carolina."
The study assessed figures from July 1, 2017 to June 31, 2018.
Johanna Cano - Sep 13, 2019
Christina Haley O'Neal - Sep 12, 2019
Cece Nunn - Sep 13, 2019
The county-owned property at 4301 Blue Clay Road has been the center of a contract between to explore future possibilities for the site....
A growing number of women have joined the tech field, and some in the Wilmington area are working to keep them there....
With the approval of its shareholders at last month’s annual meeting, Entegra Financial Corp. is moving ahead on a merger agreement with Fir...