NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY...
-
Upload
lily-dryer -
Category
Documents
-
view
217 -
download
4
Transcript of NORTHWEST ECONOMIC RESEARCH CENTER COLLEGE OF URBAN AND PUBLIC AFFAIRS PORTLAND STATE UNIVERSITY...
NORTHWEST ECONOMIC RESEARCH CENTERCOLLEGE OF URBAN AND PUBLIC AFFAIRS
PORTLAND STATE UNIVERSITY
Transportation and the Economy
2015 Transportation SeminarWillamette UniversityJanuary 14, 2015Dr. Tom PotiowskyDirector, Northwest Economic Research Center
TRANSPORT & INVESTMENT
Source: American Society of Civil EngineersReporthttp://www.asce.org/failure_to_act_economic_studies/
Transport and Infrastructure InvestmentAmerican Society of Civil Engineers Report
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 InvestmentAmerican Society of Civil Engineers Report
Source: American Society of Civil Engineers Reporthttp://www.asce.org/failure_to_act_economic_studies/
The Circular Flow of the Economy
Source: http://jfvambrosio.files.wordpress.com/2013/10/circular-flow.jpg
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 TrendsFrom Oregon Transportation Plan 2006
Source: Oregon Transportation Plan 2006, Transportation Development Division
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
Source: Exhibit 4, Commodity Flow Forecast, ODOT 2009
Oregon Commodity Flow Forecast
Source: Economic Benefits of Oregon Public Ports
Port of Portland: global & domestic trading hub
Coasta
l P
ort
s:
seafo
od
, w
ood
p
rod
ucts
, to
uri
sm 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
• 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 4th 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
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)
EMPLOYMENT IN TRANSPORT & OTHER SECTORS
Oregon Industries Return to Pre-Recession LevelPercent Change in Employment Since Jan 2008 through Nov 2014
Source: Bureau of Labor Statistics
Oregon Industries Yet to Fully RecoverPercent Change in Employment Since Jan 2008 through Nov 2014
Source: Bureau of Labor Statistics
Estimated Employment Transportation, OregonEmployed (January 1990 - Oct 2014)
Source: Oregon Employment Department, Employment and Wages by Industry (QCEW), NERC
Employment by Industry, OregonEmployed (January 2001 - June 2014)
Source: Oregon Employment Department, Employment and Wages by Industry (QCEW)
Employment by Industry, OregonAll Employees (January 2001 - June 2014)
Source: Oregon Employment Department, Employment and Wages by Industry (QCEW)
EXPORTS OREGON
Source: Oregon Office of Economic Analysis
Questions and Discussion