Report Says Louisiana Ports Growing Rapidly, Contributing to State Economy
Ports in Louisiana have grown in net assets and net income over the last decade, even while employment in the state has been relatively stagnant, according to a report on the ports issued May 21 by the Ports Association of…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Louisiana. Net assets of the ports have grown by about $60 million per year from 2000 to 2010. Coastal ports grew almost 190 percent and inland ports more than doubled their total assets, according to the report by James Richardson of Louisiana State University. The deep draft ports had an increase in net assets of nearly 40 percent. For deep draft ports, the increase in net income was $1.3 million per year, and for inland ports $0.3 million, the report said. Overall, in recent years there has been a "surge" of port activity around the state, the report said. For example, the Port of South Louisiana in 2011 handled 273,991,603 short tons of cargo, its largest amount ever. It estimated that the ports directly spent just over $194 million in 2011. (For copy of the report email documents@brokerpower.com).