Posted on Thursday, August 10, 2023
TOLEDO, Ohio, August 10, 2023 – The Toledo-Lucas County Port Authority is pleased to share the results of the Economic Impacts of Maritime Shipping in the Port of Toledo, a report documenting the many contributions made by the Port of Toledo and Great Lakes Seaway Shipping to the City of Toledo, Lucas County, State of Ohio, and the Great Lakes region.
The study reports that in 2022, the Port of Toledo and maritime commerce supported:
- 7,971 jobs
- $906.2 million in economic activity
- $708.6 million in personal income and local consumption expenditures
- $183.2 million in federal and state/local tax revenue
“The Toledo-Lucas County Port Authority had an excellent year in 2022,” says Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority. “The results from this year’s study indicate an increase of 888 new jobs and more than $237 million in additional economic activity compared to data reported in the 2018 study. This increase can be mostly contributed to the addition of the Cleveland-Cliffs Toledo Direct Reduction Plant at Ironville in East Toledo.”
Last month, the Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region, a year-long study of the economic impacts of the entire Great Lakes-St. Lawrence Seaway navigation system was released. The Study revealed that Great Lakes-St. Lawrence Seaway shipping is a key driver of the economy, supporting $36 billion in economic activity and more than 240,000 jobs. In 2022, 135.7 million metric tons of raw materials and finished goods were delivered by commercial vessels serving critical industries such as agriculture, construction, energy, and steelmaking.
To view the Economic Impacts of Maritime Shipping in the Port of Toledo full report, please click here.
To view the Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region full report, please click here.
Both studies, compiled from 2022 data, were conducted by economic consultants Martin Associates of Lancaster, Pennsylvania, a global leader in transportation economic analysis and strategic planning. Martin Associates was retained to perform the Great Lakes-St. Lawrence Seaway analysis by a coalition of U.S. and Canadian Great Lakes and St. Lawrence marine industry stakeholders, including the Saint Lawrence Seaway Development Corporation, the St. Lawrence Seaway Management Corporation, the American Great Lakes Ports Association, the Chamber of Marine Commerce, the Lake Carriers’ Association, and the Shipping Federation of Canada.
The mission of the Toledo-Lucas County Port Authority is to develop expertise and assets that drive and grow the region’s transportation and logistics infrastructure and its economic prosperity for all.
www.toledoport.org – 419.243.8251