The Port of San Diego is a vital economic engine driving $8.3 billion in total economic output and supporting 68,300 jobs in 2015, including multiplier effects, according to an economic impact analysis by Economic & Planning Systems Inc.
As for the Port’s cruise activity, it generated $42 million in direct economic output and 430 direct jobs, according to a statement.
The final report, “Economic Impacts of the San Diego Unified Port District in 2015,” also revealed that the Port’s total employment impact results in $3.3 billion in labor income.
Overall, about one in 30 jobs in San Diego County and about 2.5 percent of the gross regional product are attributable to the Port.
“This study reinforces what we see every day on the working waterfront; the Port of San Diego is an economic engine for the San Diego region and its impact continues to grow,” said Port Chairman Marshall Merrifield. “Our economic impact will continue to grow with the success of our cruise and cargo businesses, the development boom, and new business lines linked to our leadership in the Blue Economy. All pistons are firing at the Port of San Diego! Our diversified portfolio reflects the strength and diversity of the people of the region.”
Business activity from the Port of San Diego also generates more than $100 million in tax revenues in its five member cities: Chula Vista, Coronado, Imperial Beach, National City and San Diego.
Total impact includes direct output as well as indirect and induced output, sometimes called the multiplier effect.
The Port of San Diego’s direct economic output was $5.4 billion, up about 6 percent from 2013, and direct employment was 43,627, up about 10 percent from 2013. “Direct” refers to activity and jobs located at businesses within the Port of San Diego’s jurisdiction.
The Port’s business portfolio is divided into two categories – industrial and maritime commerce (cargo operations, ship-building and repair, manufacturing, cargo- and terminal-related businesses and wholesale), and tourism and commercial activity (hospitality, retail, recreation, and most convention and cruise).