News Summary
Port activities in Georgia are significantly enhancing the state’s economy, supporting nearly 651,000 jobs and generating $174 billion in sales. This growth is attributed to the state’s deepwater ports, particularly those in Savannah and Brunswick, which are vital for both employment and GDP contributions. Governor Brian Kemp emphasizes Georgia’s status as a leading business state, underscoring the importance of reliable infrastructure in driving this success. With substantial tax contributions and ongoing improvements in port operations, the economic impact of Georgia’s ports continues to expand, reflecting their essential role in the region.
Savannah, Georgia — Port activity in Georgia significantly boosts the state’s economy, supporting a total of 650,965 jobs for the fiscal year 2024, representing a 7% increase from the previous year. The economic contributions from the state’s deepwater ports account for approximately $174 billion in sales, which equates to 11% of Georgia’s total sales.
This report, compiled by the University of Georgia’s Terry College of Business, highlights the Ports of Savannah and Brunswick as crucial economic engines within the state. The analysis indicates that these ports directly support 12% of total state employment. Georgia Governor Brian Kemp attests that the state has emerged as the number one state for business for over a decade, attributing this success largely to its reliable infrastructure.
For the fiscal year 2024, which spans from July 1, 2023, to June 30, 2024, Georgia’s deepwater ports will contribute notable economic figures: $77 billion to the state Gross Domestic Product (GDP), representing 9% of the state’s total GDP. This marks an impressive 7% increase or $5 billion over fiscal year 2023.
Additionally, these ports generate a significant $43 billion in personal income, which accounts for 7% of the state’s total personal income, demonstrating a 7.5% growth from the prior year with an increase of $3 billion.
Exports and Imports at Georgia Ports
The report identifies the top three export commodities transported through Georgia’s ports as forest products, food, and automotive cargo. On the other hand, the principal imports include machinery, retail goods, and furniture.
Tax Contributions and Economic Support
The trade activities through Georgia’s ports have a substantial impact on government finances, generating approximately $10 billion in federal taxes, $3 billion in state taxes, and an additional $3 billion in local taxes annually. These contributions underscore the vital role the ports play in supporting essential government services.
Additional Details on Port Operations
The Georgia Ports Authority (GPA) highlights that the improvements made in port operations are funded entirely through the ports’ income and do not depend on taxpayer money. The Port of Savannah currently manages significant operations, which include 35 weekly vessel services, 14,000-16,000 truck moves per day, and 42 double-stack trains each week. Meanwhile, the Port of Brunswick has been designated as the nation’s busiest gateway for automobiles and heavy equipment, moving 901,000 units of Roll-on/Roll-off cargo in 2024.
Contributors to Job Growth
The GPA leadership acknowledges the crucial contributions from various stakeholders that have fostered job growth in the region. Continuous efforts from employees and partners play an essential role in sustaining economic development across Georgia.
Background Context
The findings highlighted in “The Economic Impact of Georgia’s Deepwater Ports on Georgia’s Economy in FY 2024” are part of a broader series of studies led by the Selig Center for Economic Growth. This comprehensive analysis reflects the ongoing importance of Georgia’s ports not only in the state’s employment landscape but also in bolstering its overall economic health.
Deeper Dive: News & Info About This Topic
- Grice Connect: Georgia Ports Economic Impact Jumps 7% in 2024
- The Center Square: Georgia Ports Economic Impact on the Rise
- Progressive Railroading: Georgia Ports Economic Impact Grew 7% Last Year
- Wikipedia: Georgia Ports
- Encyclopedia Britannica: Port
Author: STAFF HERE AUGUSTA WRITER
AUGUSTA STAFF WRITER The AUGUSTA STAFF WRITER represents the experienced team at HEREAugusta.com, your go-to source for actionable local news and information in Augusta, Richmond County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Arts in the Heart Festival, Westobou Festival, and Masters Week. Our coverage extends to key organizations like the Augusta Metro Chamber of Commerce and Greater Augusta Arts Council, plus leading businesses in manufacturing and healthcare that power the local economy such as Textron Specialized Vehicles, Cardinal Health, and Nutrien. As part of the broader HERE network, including HEREAtlanta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
