News Summary
Port activity in Georgia has significantly boosted job growth by 7%, adding over 41,000 new jobs in the state. This development highlights the importance of Georgia’s ports in the local and state economy, accounting for 12% of employment. The Georgia Ports Authority plays a crucial role in this growth, facilitating global trade through Savannah and Brunswick ports and contributing to a substantial increase in the state’s GDP and tax revenue.
Savannah, Georgia – Port activity in Georgia has driven a significant job growth of 7% in fiscal year 2024, with over 41,000 new full and part-time jobs created, bringing the total to approximately 650,000 jobs statewide. This surge underscores the profound role that Georgia’s ports play within the local and state economy.
The Georgia Ports Authority (GPA) is pivotal in this growth, allowing businesses to engage in global trade efficiently and effectively through the Savannah and Brunswick ports. The recent economic impact study by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business highlights that port-related activities now account for 12% of total employment in Georgia, translating to one in every eight jobs being directly related to the movement of goods via these ports.
In addition to job creation, the overall economic impact of Georgia’s ports has also seen substantial improvement. The ports contributed $174 billion in sales, which represents 11% of the state’s total output and reflects a 2% increase from last year. Additionally, they have bolstered the state’s gross domestic product (GDP) by $77 billion, making up 9% of Georgia’s total GDP, a figure that illustrates a 7% rise compared to fiscal year 2023.
Trade through these ports has resulted in generating significant tax revenue, with approximately $10 billion collected in federal taxes, $3 billion in state taxes, and $3 billion in local taxes annually. The income generated from port activities has contributed an impressive $43 billion to Georgia’s economy, representing 7% of personal income, a 7.5% increase over the previous year.
The primary exports of Georgia include forest products, food, and automotive cargo, while the major imports consist of machinery, retail goods, and furniture. The overall job growth and economic benefits are particularly vital as they reinforce Georgia’s manufacturing base and support various essential industries such as agriculture, forestry, and mining.
The GPA also enhances its distribution and logistics capabilities through rail services that connect to major railroads. This infrastructure ensures that goods can be moved efficiently across the state and beyond, further promoting growth in the job market.
Since fiscal year 2021, economic trends indicate a substantial increase in both jobs and revenue streams associated with Georgia’s ports. Governor Brian Kemp has asserted that the ports create a business-friendly environment that is crucial for economic development across the state. By acting as a national gateway for exports, the GPA connects key ocean carriers with road and rail systems, thus significantly fostering job growth.
This comprehensive overview of Georgia’s port activity illustrates not only the immediate benefits of expanded job opportunities but also the far-reaching implications for state economic stability and growth. The continued investment and efficiency of the Savannah and Brunswick ports indicate a promising future for both job seekers and businesses reliant on robust trade connections.
Deeper Dive: News & Info About This Topic
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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.
