Economic Importance of Trade & the Ports to Southern California
The study, conducted by the California Center for Jobs and the Economy, provides valuable insights into the economic contributions of the San Pedro Port Complex (Ports of Long Beach and Los Angeles) on local, regional, state, and federal levels. The study also cautions that these contributions may be jeopardized if the South Coast Air Quality Management District (SCAQMD) advances their draft concept of the Ports Indirect Source Rule (Ports ISR).
Highlights of the ports’ economic impact in Southern California include:
Combining direct, indirect, and induced effects, operations directly related to the ports in 2022 supported an estimated 226,000 jobs.
The ports contributed more than $48.47 billion in total economic output in 2022.
In 2022, jobs directly related to the ports nearly $20 billion in labor income (compensation including benefits).
The total economic effects from the ports’ combined activity support 3.5 million jobs, $153 billion in income and $812 billion in output.
In 2022, the Ports supported $2.787 billion in state and local taxes to state and local governments in Southern California. The associated federal tax revenues were $4.73 billion.
Every percentage point of containerized market share handled by the Ports underlies 8,000 total jobs in the region’s trade cluster. The 9.6% point market share loss since 2006 equates to the trade cluster being 77,100 jobs lower.
Read the entire study here or at the California Center for Jobs.