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IMPACTS of the CONNECTICUT MARITIME INDUSTRY

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IMPACTS of the CONNECTICUT MARITIME INDUSTRY IMPACTS of the CONNECTICUT MARITIME INDUSTRY Prepared for Connecticut Port Authority Prepared by Connecticut Economic Resource Center, Inc. July 2019 The Connecticut Economic Resource Center, Inc. (CERC) is a nonprofit corporation and public-private partnership that drives economic development in Connecticut by providing research-based data, planning and implementation strategies to foster business formation, recruitment and growth. CERC has proven and relevant expertise providing clients with the knowledge and insight they need to gain a competitive advantage. CERC is a pioneer in the development of programs, technologies and capabilities to support effective economic development and offers a complete range of services from economic impact analysis, strategic planning, data gathering and communications, to outreach, site selection and business assistance. CERC has earned a reputation for excellence in Connecticut’s economic development community through our accomplished, professional staff, commitment to customer service, and connection to a network of strategic partners. TABLE OF CONTENTS Introduction ............................................................................................................................................................ 3 Structure of Report ....................................................................................................................................................................... 5 Chapter 1 – An Overview of Connecticut’s Ports ........................................................................................ 8 Connecticut Port Authority ....................................................................................................................................................... 9 Municipal Port Authorities and Their Operations ........................................................................................................ 11 Conclusion ...................................................................................................................................................................................... 13 Chapter 2 – The Impact of the Commodities Moving Through Connecticut Ports and Stamford Harbor on Output and Employment ............................................................................................................ 14 Commodities Moving through Connecticut’s Ports and Stamford Harbor ........................................................ 15 The Impacts of the Commodities Moving Through Connecticut’s Ports and Stamford Harbor ............... 20 Conclusion ...................................................................................................................................................................................... 26 Chapter 3 – The Impact of Connecticut Ports’ Maritime Activities on Output and Employment ................................................................................................................................................................................... 27 Businesses and Employment in Port Districts................................................................................................................ 28 The Impacts of Connecticut’s Ports and Port Districts ............................................................................................... 31 Conclusion ...................................................................................................................................................................................... 37 Chapter 4 – The Impact of Government Maritime Activities in Connecticut on Output and Employment ......................................................................................................................................................... 38 The Components of Connecticut’s Government Maritime Activities .................................................................... 39 The Impacts of Government Maritime Activities in Connecticut ........................................................................... 48 Conclusion ...................................................................................................................................................................................... 52 Chapter 5 – The Impact of Business and Nonprofit Maritime Activities in Connecticut on Output and Employment .................................................................................................................................. 53 The Components of Connecticut’s Business and Nonprofit Maritime Activities ............................................. 54 The Impacts of Business and Nonprofit Maritime Activities in Connecticut .................................................... 66 Conclusion ...................................................................................................................................................................................... 70 Chapter 6 – The Impact of Recreation and Tourism Maritime Activities in Connecticut on Output and Employment .................................................................................................................................. 71 The Components of Connecticut’s Recreation and Tourism Maritime Activities ........................................... 71 PAGE | 1 The Impacts of Recreation and Tourism Maritime Activities in Connecticut ................................................... 76 Conclusion ...................................................................................................................................................................................... 80 Appendix A – Data Sources .............................................................................................................................. 81 Interviews and/or Data Providers ....................................................................................................................................... 81 Data Collection Process by Chapter ..................................................................................................................................... 82 Appendix B – Overview of IMPLAN Methodology and Glossary of Terms ...................................... 91 IMPLAN Modeling........................................................................................................................................................................ 91 Glossary of Impact Analysis Terms ..................................................................................................................................... 94 Appendix C – Maps of Port Districts ............................................................................................................. 96 Appendix D – The Impact of Non-Maritime Employers in Connecticut Port Districts on Output and Employment ................................................................................................................................................. 99 The Non-Maritime Components of Connecticut’s Port Districts ............................................................................ 99 The Impacts of Non-Maritime Employers in Connecticut’s Port Districts ...................................................... 101 Conclusion ................................................................................................................................................................................... 105 Appendix E – Literature Review of Connecticut Maritime Impact Analyses ............................... 106 Comprehensive Maritime Industry Studies .................................................................................................................. 106 Partial Studies of Maritime Industry ................................................................................................................................ 112 Conclusion ................................................................................................................................................................................... 113 PAGE | 2 Introduction Connecticut’s maritime industry is an essential driver of the state’s economy and has been for over three centuries. Today the maritime industry in Connecticut creates an estimated annual impact of more than $11 billion dollars in output and supports For this report, a “maritime activity” is nearly 60,000 jobs (Figure I.1).1 This study examines defined as a water-related activity this total impact as it originates across the complete connected to, on or near a navigable spectrum of maritime industry activities in the state waterway. In Connecticut, these and then ripples out into all sectors of the state’s waterways include both Long Island economy. This spectrum is divided into five categories Sound and the Connecticut River. that are studied in this report. These categories are: 1. Economic maritime activities generated in the three deepwater port districts; 2. Commodities moving through the deepwater ports and Stamford Harbor; 3. Federal, state, and local government maritime activities; 4. Maritime activities of for-profit businesses and nonprofit organizations; and 5. Maritime-related recreation and tourism. Figure I.1: Total Impacts of Connecticut’s Maritime Industry Connecticut’s Maritime Industry: Total Impact Total Impact Total Impact on Total Impact on which on Value which on Output = Labor Income = Employment = includes Added = includes $11.2 billion $4.5 billion 59,800 jobs $7.2
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