Print
Maritime

Port Of Wilmington Has Nearly $13B Impact On State's Economy, Study Shows

By Cece Nunn, posted Jan 24, 2019
A photo from the Port of Wilmington adorns the cover of the 2018 Economic Impact Study of North Carolina's ports. (NC Ports)

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.

Ico insights

INSIGHTS

SPONSORS' CONTENT
Fredheadshot 5119113348

Commercial Window Coverings and How They Help the Community

Fred Kumpel - Strickland's Home
Natalieenglish 3301715113

Advocacy: The Heart of the Chamber

Natalie English - Wilmington Chamber of Commerce
Dallas headshot 300x300

Successful Planning Starts Much Earlier Than You Think

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Realtor Submits Site Plans For Luxury Condos, Executive Office Center

Cece Nunn - Aug 22, 2019

Firm's Expansion Expected To Lead To New CRO Jobs In Wilmington

Cece Nunn - Aug 22, 2019

SummerFest 19 To Include Street Food Cook-off At Battleship Park

Jessica Maurer - Aug 21, 2019

Timeline In Motion For Castle St. Redevelopment Project

Christina Haley O'Neal - Aug 21, 2019

Drift Coffee  & Kitchen Now Open At Mayfaire 

Jessica Maurer - Aug 21, 2019

In The Current Issue

Measuring Coral Health

Researchers at UNCW have developed an instrument that measures the health of coral reefs, a tool that could be useful for other universities...


Local Distillery Makes A Splash

With Brooke Bloomquist’s background in marketing and special events and her father’s naval career and business prowess, their masterminding...


A New Leaf: CBD, Hemp Products Lead To New Businesses

Last year's Farm Bill opened the door for hemp farming, producing and selling, and that's translated into numerous new businesses nationwide...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

WILMA's Leadership Accelerator
Power Breakfast - The H Word (June 13, 2019)
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`