Economic Impacts Vancouver

Economic Impacts Vancouver - The Local and Regional...

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The Local and Regional Economic Impacts of the Port of Vancouver Marine Terminals and Non-Maritime Real Estate Tenants Prepared for: July12, 2006 Martin Associates 941 Wheatland Ave., Suite 203 Lancaster, PA 17603 www.martinassoc.net
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E-1 Summary of the Economic Impacts Created by The Port of Vancouver Marine Terminals and Real Estate Tenants The Port of Vancouver, located on the Columbia River consists of four marine terminals and 13 berths, and is home to the largest grain export elevator on the West Coast of the United States. These marine terminals handle automobiles, forest products, steel, grain, dry bulk cargoes and liquid bulk products, and provide the catalyst for economic activity throughout the region. In addition to the marine terminals owned by the Port of Vancouver, the Port also is home to an extensive and diverse range of non- maritime tenants. These tenants include industrial and manufacturing facilities, warehouse and distribution operations, commercial real estate tenants and agricultural tenants. These tenants are also key contributors to the local and regional economy. Because of this perceived economic contribution of the Port to the local and regional economy, the Port of Vancouver retained the services of Martin Associates to quantify the economic impact of the Port of Vancouver seaport and non-maritime real estate operations. This current study is an update of a similar study conducted by Martin Associates in 2000. In the previous study, as well as in this current study, separate studies were conducted for the two lines of business, and have been presented under separate cover. The combined impacts of the maritime and real estate activities are presented in the balance of this summary. It is to be emphasized that the economic impacts estimated for maritime activity at the Vancouver Harbor included impacts created by both the Port-owned terminals, as well as privately owned marine terminals located in the Vancouver Port District. However, in 2005, the private terminal, Vanalco, that had previously been considered in the harbor-wide impacts of 2000 was no longer in business. Therefore, the impacts identified in the separate marine impact report actually reflect the impacts generated by the cargo and vessel activity at the Port of Vancouver’s owned and leased marine terminals. The impact analysis is based on a telephone survey of 275 marine and real estate tenants and firms providing services to the marine terminals and represents a 100% sample of the Port’s tenants as well as the maritime community serving the Vancouver marine terminals. Local respending models were also developed to estimate the impact of local purchases by both individuals directly employed by Port tenants and vessel and cargo activity at the Port’s marine terminals. Also quantified was the economic impact of the marine terminals on shippers and consignees using the marine terminals. Economic activity due to the movement of marine cargo and vessel activity, or by
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Economic Impacts Vancouver - The Local and Regional...

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