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CLEVELAND, Ohio — More than 23,000 jobs and over $7 billion in economic impact are being created by the Port of Cleveland and maritime-dependent industrial sector, a new report shows. The economic impact is an increase of $2.3 billion from 2021, in which there was a $4.
7 billion impact, according to the report from John C. Martin Associates LLC, an internationally recognized leading transportation economics firm. The study was commissioned by the Ohio Department of Transportation.
“Cleveland’s harbor and river system is not just a local maritime and recreational asset — it’s a major economic powerhouse,” Port president and CEO Will Friedman said in a statement released Thursday. “As the public guardian of the maritime sector, the Port of Cleveland continues to prove itself as an economic engine for Cuyahoga County and Northeast Ohio. “These numbers demonstrate we are headed in the right direction and I am especially gratified to see this report as I conclude my tenure.
” Friedman, who has been president and CEO of the Port since 2010, announced in October he was stepping down at the end of the year after he and the Port’s board could not reach an agreement on a new contract. The report also shows that the port and maritime sector also generate $1.89 billion in personal income and $189 million in local and state taxes.
It attributes the recent economic surge to increased iron ore tonnages (up to nearly 9 million metric tons in 2023), higher output (cargo throughput, vessel traffic, etc.) and improved salaries and income multipliers. “The Port plays a vital role in the economic fabric of Northeast Ohio, supporting industries, creating jobs and strengthening communities,” Port board chair Stefan Holmes said in a statement.
“While its contributions often go unnoticed, the impact is undeniable.” The report says that maritime activities in Ohio overall helped support nearly 131,000 jobs across the state. It says that combining businesses services revenue, related output and re-spending income brings the total maritime economic impact in the state to $40 billion.
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