n State GDP (Value Added) Impacts n Measured in terms of GDP or value added, Georgia’s deepwater ports contributed $59 billion to the state’s econ- omy in FY 2021, which is 9 percent of Georgia’s total GDP. Out of the total GDP impact, $4 billion (6 percent) rep- resents the results from the ports industry. The GPA’s operations at the Port of Savannah contribute 87 percent of this amount. However, the $56 billion GDP impact attributed to ports users is about 16 times greater than that of the port industry, so users account for 94 percent of the total GDP impact of Georgia’s deepwater ports. Of the FY 2021 total GDP impact, $29 billion represents the direct effects of initial spending, or the direct eco- nomic impact; $30 billion is indirect and induced spending, or the re-spending (multiplier) impact. Dividing the FY 2021 total GDP impact ($59 billion) by the direct GDP impact ($29 billion) yields an average multiplier value of 2.05. On average, therefore, every dollar of direct GDP produced by the ports industry and ports users yields an additional 105 cents for the state’s economy. n Income Impacts n Measured in terms of income, Georgia’s deepwater ports contributed $33 billion to the state’s economy in fiscal year 2021, which is 6 percent of Georgia’s total personal income. Out of the total, $3 billion (8 percent) represents the results from the ports industry. The GPA’s operations at the Port of Savannah contribute 89 percent of this amount, but ports users’ $30 billion income impact is over twelve times greater. Indeed, users account for 92 percent of the total income impact of Georgia’s deepwater ports. Of the FY 2021 total income impact, $16 billion represents the direct effects of initial spending, or the direct eco- nomic impact; $17 billion is indirect and induced spending, or the re-spending (multiplier) impact. Dividing the FY 2021 total income impact ($33 billion) by the direct income impact ($16 billion) yields an average multiplier value of 2.12. On average, therefore, every dollar of direct income produced by the ports industry and ports users generates an additional 112 cents for the state’s economy. n Employment Impacts n The economic impact of Georgia’s deepwater ports probably is most easily understood in terms of its effects on employment. Measured in these terms, Georgia’s deepwater ports support 561,087 full- and part-time jobs, which equal 11 percent of Georgia’s total employment—based on the household survey definition of employment. This means that more than one job out of every nine is in some way dependent on the ports. Out of the 561,087 jobs, 51,442 (9 percent) represent the results from the ports industry. The GPA’s operations at the Port of Savannah contribute 89 percent of these 51,442 jobs, but ports users’ 509,645-job impact is almost ten times greater, so users account for 91 percent of the total employment impact of Georgia’s deepwater ports. Of the FY 2021 total employment impact, 250,192 jobs represent the direct effects of initial spending, or the direct economic impact; 310,898 jobs constitute the indirect and induced effect of spending, or the re-spending (multiplier) impact. Dividing the FY 2021 total job impact (561,087 jobs) by the direct job impact (250,192 jobs) yields an average multiplier value of 2.24. On average, therefore, each job created directly by the ports industry and ports users yields an additional 1.2 jobs in the state. n State Tax Impact n Spending by the ports industry and ports users generate substantial tax revenue for Georgia’s state government. The total economic impact of Georgia’s deepwater ports on tax collections by state government in fiscal year 2021 is $2 billion. n Local Tax Impact n Spending by the ports industry and ports users generate substantial tax revenue for Georgia’s local governments. The total economic impact of Georgia’s deepwater ports on tax collections by local governments in fiscal year 2021 is $1.8 billion. 8
