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FINAL STUDY - Economic Impacts of Waterborne Shipping on the Indiana Lakeshore

FINAL STUDY - Economic Impacts of Waterborne Shipping on the Indiana Lakeshore

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Indiana Ports Study
Indiana Ports Study

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Published by: Unlockourjobs on Sep 14, 2010
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11/01/2012

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ECONOMIC IMPACTS OF WATERBORNE SHIPPINGON THE INDIANA LAKESHORE
 
August 2010Calendar Year 2008Prepared for:PORTS OF INDIANAMartin Associates941 Wheatland AvenueSuite 203Lancaster, PA 17603
 
 
TABLE OF CONTENTS
 
 1
ECONOMIC IMPACTS OF WATERBORNE SHIPPINGON THE INDIANA LAKESHORE
Study prepared by Martin Associates
 – 
August 2010Peer Reviewed by Economics Professors from the Universities of Indiana, Notre Dame and Purdue
I. EXECUTIVE SUMMARY
Martin Associates was retained by the Ports of Indiana to measure the local, regional andstate economic impacts generated by maritime activity of the Indiana Lakeshore terminalsincluding the Port of Indiana-Burns Harbor tenant base. Economic impacts generated at thecargo and industrial facilities include the impacts generated by steel products, steel inputcommodities such as iron ore and coal/coke, cement, fertilizer, grain/soybean products,limestone, as well as other dry and liquid bulk cargoes. In 2008, according to the U.S. ArmyCorps of Engineers Waterborne Commerce Statistics, about 32 million tons of foreign anddomestic cargo shipments were handled on the Indiana Lakeshore including facilities located atBurns Harbor, Indiana Harbor, Buffington Harbor and Gary (this includes 1.9 million tons that
moved via the Inland Waterways System through O’Brien Lock). The ma
 jority, about 78% of this tonnage, was iron ore pellets discharged by laker vessels to the various steel mills along theIndiana Lakeshore. It should also be noted that 2008 was the most current year of data availablefor all shipping modes at the time of this study and that the 32 million tons of cargo handled thatyear were less than the previous 4-year average of 34.2 million tons. Similarly, the 1.9 millionbarge tons were less than the average of 3.0 million tons over the same 2004-2007 period.The study employs methodology and definitions that have been used by MartinAssociates to measure economic impacts at more than 250 ports in the United States and Canada,and at the leading U.S. airports. It is to be emphasized that only measurable impacts are included
in this study. In order to ensure defensibility, the Martin Associates’ approach to economic
impact analysis is based on data developed through an extensive interview and telephone surveyprogram of port tenants, lakeshore shippers and firms providing cargo and logistics services onthe Indiana Lakeshore. Specific re-spending models have been developed for the Indiana area toreflect the unique economic and consumer profiles of the regional economy. To furtherunderscore the defensibility of the study, standardized impact models, such as the MARAD PortKit were not used. Instead, the resulting impacts reflect the uniqueness of the individual portoperations, as well as the surrounding regional economy.The Indiana Lakeshore is unique in the fact that three separate modes of waterbornecommerce are currently used in the shipping and receipt of raw materials and finished product.
These include: international ships moving cargo through the St. Lawrence Seaway (“salties”),
lake ships moving i
nternational and domestic shipments throughout the Great Lakes (“lakers”),
and barges of international and domestic cargoes moving along the Inland Waterways System. Itis this unique convergence of water transportation modes that provides steel mills and otherindustries with the ability to use cost-effective methods for receiving raw materials such as ironore, coal and limestone and for shipping finished products to domestic and international markets.

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