Georgia Ports Authority Reports Significant Job Growth

News Summary

The Georgia Ports Authority has revealed that port activities are currently supporting over 650,900 jobs across the state, reflecting a notable increase. This surge in employment emphasizes the vital role that Georgia’s deepwater ports play in the economy, with the Total Economic Contribution reaching $174 billion. Key exports include forest products and automotive cargo while federal, state, and local tax revenues generated from port activities amount to $10 billion annually. Future investments in infrastructure aim to enhance the state’s economic landscape, ensuring continued growth and job creation.

Savannah, Georgia – The Georgia Ports Authority (GPA) has announced that port activities are supporting over 650,900 jobs across the state for the fiscal year 2024. According to a recent report from the University of Georgia’s Terry College of Business, this figure marks an increase of approximately 41,700 jobs compared to the previous fiscal year. This employment surge indicates that port activity now sustains roughly 12% of the total employment within Georgia.

Governor Brian Kemp highlighted Georgia’s longstanding reputation as the “#1 state for business,” attributing part of this success to the state’s robust and reliable infrastructure. The Ports of Savannah and Brunswick play pivotal roles as economic drivers in creating a pro-business environment in Georgia. This report underscores the importance of the state’s deepwater ports as crucial components of its economic landscape.

Economic Impact of the Ports

The economic impact of Georgia’s deepwater ports for the fiscal year 2024, spanning from July 1, 2023, to June 30, 2024, showcases their significance across various industries. The total economic contribution of the ports amounted to $174 billion in sales—an increase of 2% from fiscal year 2023. Additionally, the ports contributed $77 billion to the state’s Gross Domestic Product (GDP), reflecting a notable 7% rise compared to the prior year.

Income generated from port activity reached $43 billion, representing a 7.5% growth from fiscal year 2023. The top three categories among Georgia’s exports were forest products, food, and automotive cargo, highlighting the diverse nature of cargo managed by the ports. Conversely, leading imports included machinery, retail goods, and furniture.

Tax Revenue and Job Growth

The ports contribute significantly to tax revenues in Georgia, yielding $10 billion annually in federal tax revenue, along with $3 billion in state taxes and $3 billion in local taxes. The ongoing expansion and efficiency improvements at the ports have been a crucial factor in sustaining job growth and economic activity across multiple sectors, including transportation, logistics, warehousing, manufacturing, agriculture, forestry, and mining.

Port Activity and Future Developments

In fiscal year 2025, the GPA moved 5.7 million twenty-foot equivalent container units (TEUs), marking an 8.6% increase compared to the previous fiscal year. The Port of Savannah in particular has seen a significant rise in cargo volume, achieving a 4.5% compound annual growth rate since 2016, which surpasses the overall 2.7% growth rate witnessed across the U.S. container port market.

The Port of Brunswick also demonstrated strength in fiscal year 2025, handling 870,775 units of automobiles and heavy equipment, matching a record set in 2024. Looking forward, the GPA plans to initiate construction on a new $100 million project called Colonels Island Berth 4, which is scheduled to open in 2027.

Ongoing and Future Infrastructure Investments

Over the past decade, the Georgia Ports Authority has completed $3.2 billion in infrastructure-related projects and intends to invest an additional $4.5 billion within the next ten years. Currently, two big ship berths at Ocean Terminal are undergoing upgrades, expected to be completed by 2027-2028. Furthermore, three additional big ship berths are planned for Savannah Container Terminal to be developed between 2030 and 2034.

In fiscal year 2025, the GPA executed $470 million in projects and approved an additional $472 million for new infrastructure initiatives. As the economic engine of Georgia’s commerce, the ports serve as a vital link in the state’s economic development strategy, supporting increasing levels of trade and job creation in the region.

Deeper Dive: News & Info About This Topic

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