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.
Cece Nunn - Jul 6, 2020
Vicky Janowski - Jul 6, 2020
Industrial commercial real estate gained more attention over the past few months as a sector that’s still doing well, despite an economic do...
Graduate medical education has been one of several issues hashed out as part of the recent negotiations over New Hanover Regional Medical C...
While some restaurants have gone out of business and others are still temporarily closed, others are expanding....