News & Events
Economist Dr. Loren C. Scott Gives PORT High Marks
SHREVEPORT-BOSSIER, LA --- Louisiana State University Professor Emeritus of Economics, Loren C. Scott calls the Port of Caddo-Bossier a "hidden gem." Scott gave The Port high marks in his new report studying the impact The Port of Caddo-Bossier has on the region. With area government and business leaders in attendance on Tuesday, he presented a PowerPoint summary at the Port's Regional Commerce Center. As reported by Adam Duvernay of The Times, Dr. Scott stated "The Port of Caddo-Bossier isn't the area's most visible asset, but it is invaluable to continued growth in the area."
According to Dr. Scott, "For every new job at the Port, there are four additional jobs created in the two-parish region." Scott further stated that The Port may be undervalued by area residents." He calculated approximately 7600 jobs in the two-parish region stem from work done at the Port. According to Scott, "Some other ports around the state should be envious."
Other key findings of the Economic Impact Study:
- The Port's annual operating expenditures supported 7,550 new jobs within the Caddo-Bossier Region in 2010.
- For every new job created on the Port site, there are 4.1 additional jobs created in the 2-parish region.
- The Operational Spending at The Port in 2010 generated almost $2 billion in new business sales within the Caddo-Bossier region.
- New business sales in turn created new household earnings of more than $564 million for residents of the region.
A copy of Dr. Scott's Study can be viewed from the Home Page of www.portsb.com
According to the president of the Caddo-Bossier Parishes Port Commission, James D. Hall, "An important component of sharing the magnitude of the Caddo-Bossier Port is an understanding of the role an organization such as The Port plays in the economic life of Caddo and Bossier Parishes and the State of Louisiana. Recognizing this need, The Port contracted with Loren C. Scott and Associates to analyze the economic impact of The Port's past, current and future activities."
The analysis primarily features four components: Business sales in the region, household earning of the citizens in the region, jobs created within Caddo and Bossier parishes and local government sales tax collections.
In calculating the above components, Dr. Scott analyzed: the annual operating revenues of businesses associated with the Port; annual payroll of the Port and its tenants and customers; annual operating expenses; state and federal monies received in the development of the Port complex.
The 2,500-acre Port of Shreveport-Bossier is located at the head of navigation on the Red River Waterway in Northwest Louisiana. An inland multi-modal transportation and distribution center, The Port works hand in hand with the port system of Louisiana to successfully link customers throughout the Ark-La-Tex region to domestic and international markets via the Mississippi River, the nation's largest river system, and the Gulf Intracoastal Waterway.
Released by: Anne Gremillion/ Gremillion & Pou and Associates, Inc. / 318.424.2676 x311 / email@example.com
« Return to News