Presentation is loading. Please wait.

Presentation is loading. Please wait.

NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY Transportation and the Economy 2015 Transportation Seminar.

Similar presentations


Presentation on theme: "NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY Transportation and the Economy 2015 Transportation Seminar."— Presentation transcript:

1 NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY Transportation and the Economy 2015 Transportation Seminar Willamette University January 14, 2015 Dr. Tom Potiowsky Director, Northwest Economic Research Center

2 TRANSPORT & INVESTMENT

3 Source: American Society of Civil Engineers Reporthttp://www.asce.org/failure_to_act_economic_studies/ Transport and Infrastructure Investment American Society of Civil Engineers Report

4 ASCE finds that with an additional investment of $157 billion a year between now and 2020, the U.S. can eliminate this drag on economic growth and protect: $3.1 trillion in GDP, almost the equivalent of Germany’s entire GDP $1.1 trillion in U.S. trade value, equivalent to Mexico’s GDP 3.5 million jobs, more than the jobs created in the U.S. over the previous 22 months $2.4 trillion in consumer spending, comparable to Brazil’s GDP $3,100 in annual personal disposable income Transport and Infrastructure Investment American Society of Civil Engineers Report Source: American Society of Civil Engineers Report

5 The Circular Flow of the Economy Source:

6

7 Oregon Department of Transportation Goal: “To promote the expansion and diversification of Oregon’s economy through the efficient and effective movement of people, goods, services and information in a safe, energy efficient and environmentally sound manner.” “Oregon’s transportation system is part of a broader Northwest and West Coast regional, national and international transportation system.” “The Portland metropolitan area is the economic hub of the state with a wide diversity of businesses and key transportation facilities, Oregon’s economy is dependent on products and services from all parts of the state.” A few Important Facts and Trends From Oregon Transportation Plan 2006 Source: Oregon Transportation Plan 2006, Transportation Development Division

8 According to ODOT’s Commodity Flow Forecast from 2009: Truck flows dominate with shares of roughly 72-78% All flows remain relatively stable Air remains less than.1% in tonnage, but 6-11% of flows in terms of value It should also be noted that Air freighting moves high-value products (such as pharmaceuticals and legal documents) Source: Exhibit 2, Commodity Flow Forecast, ODOT 2009 Oregon Commodity Flow Forecast

9 Source: Exhibit 4, Commodity Flow Forecast, ODOT 2009 Oregon Commodity Flow Forecast

10 Source: Economic Benefits of Oregon Public Ports

11 Port of Portland: global & domestic trading hub Coastal Ports: seafood, wood products, tourism Business & Trade Inputs Forest Products & Outdoor Recreation Agricultural Products & Outdoor Recreation Columbia River Ports: agriculture, food/beverage processing, energy, advanced technology Source: Economic Benefits of Oregon Public Ports

12 Oregon Ports provide the link between producers (i.e., agriculture, forest and seafood products) and manufacturing products (i.e., electronics, food and energy products) with global and domestic markets. 1 in 6 jobs in Oregon are port-related. [Oregon Ports Strategic Plan] Jobs related to exports pay 20-40% more than average. [Brookings Institute, 2010 Value of Jobs study] Portland Region ranks 4 th in U.S. in export value (as share of Metro output in 2012). [Brookings Institute, 2013] Port of Portland, Portland Harbor & Port of Vancouver Economic Benefits

13  75,800 total jobs (direct, indirect/induced)  Output of $7.3 billion  Labor income of $3.8 billion  Annual local/state tax payments of $346 million  Annual federal tax payments of $246 million  $1 in port tax generates $6 in added local tax payments Source: Port of Portland Port of Portland, Portland Harbor & Port of Vancouver Economic Benefits. Regional analysis (includes Oregon and Washington)

14 EMPLOYMENT IN TRANSPORT & OTHER SECTORS

15 Oregon Industries Return to Pre-Recession Level Percent Change in Employment Since Jan 2008 through Nov 2014 Source: Bureau of Labor Statistics

16 Oregon Industries Yet to Fully Recover Percent Change in Employment Since Jan 2008 through Nov 2014 Source: Bureau of Labor Statistics

17 Estimated Employment Transportation, Oregon Employed (January Oct 2014) Source: Oregon Employment Department, Employment and Wages by Industry (QCEW), NERC

18 Employment by Industry, Oregon Employed (January June 2014) Source: Oregon Employment Department, Employment and Wages by Industry (QCEW)

19 Employment by Industry, Oregon All Employees (January June 2014) Source: Oregon Employment Department, Employment and Wages by Industry (QCEW)

20 EXPORTS OREGON

21

22 Source: Oregon Office of Economic Analysis

23 Questions and Discussion


Download ppt "NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY Transportation and the Economy 2015 Transportation Seminar."

Similar presentations


Ads by Google