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American Ports: A $2.9 Trillion Economic Powerhouse

2024-10-19 09:36:03.339000

The American Association of Port Authorities (AAPA) has released its 2024 Port and Maritime Industry Economic Contribution Report, revealing that U.S. ports support nearly $2.9 trillion in GDP and account for 21.8 million jobs across the nation. This staggering figure represents one out of every eight jobs in the United States, underscoring the critical role that ports play in the economy [76256406].

Cary S. Davis, AAPA President and CEO, emphasized the importance of ports, stating that port-related employment exceeds the workforce in 90% of U.S. metropolitan areas. The average annual wage for port workers is nearly $100,000, which is 20% higher than the national average, highlighting the lucrative nature of jobs in this sector [76256406].

Furthermore, over 40% of U.S. goods, valued at more than $2.1 trillion, move through American ports, showcasing their strategic value in the global supply chain. The report was developed using the IMPLAN economic model in collaboration with Congressional economists from Ernst & Young, providing a comprehensive analysis of the maritime industry's impact [76256406].

As global supply chain challenges persist, the significance of ports as economic engines becomes even more pronounced. The findings of this report not only reflect the current economic landscape but also highlight the potential for growth and resilience in the maritime sector [76256406].

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