A new economic study released by Martin Associates

MONTREAL, February 6, 2024 /CNW/ is a mission critical link of Canada supply chain, port Montreal Supports and creates 589,364 jobs $93.5 billion in economic activity through users of its services. These numbers from the Martin Associates economic study confirm the importance of Port Harbor Montreal to Canadian and Quebec 3.5% of national GDP and 10% of Quebec GDP in part because of the business activity of the 36 million metric tons (tonnes) of cargo handled through the port in 2022.

Economic impact of the port Montreal A study by Martin Associates measures the impact of cargo-related services at the port Montreal according to their economies Canada and Quebec. The purpose of the study is to quantify the economic impacts of handling 36+ million tons of cargo at the Port's marine terminals in 2022.

Features — Canada/Quebec

• Number of direct, indirect and induced jobs, including businesses dependent on or serving marine terminals: 37,774, based on average wages $78,721 (direct work)
• Economic benefit: $27 bln
• Tax impact of marine terminal services: $15 bln
• Cost of goods handled at the port Montreal: $1512 billion
• 589,364 jobs related to importers and exporters, including 267,941 Quebec
• Contribution of users to the Canadian economy: $935 billion, or 3.5% of GDP
• user input Quebec economy: $54.9 billion, or about 10% of GDP

New economic effects Ontario and United States

This new study also provides an overview of the economic impacts of the activity Ontario and United Stateswhich port Montreal serves as the main gateway to the heart North america. For OntarioGoods in transit through the port are supported by:

• 154,774 user jobs
• $18The total economic value is 9 billion, or 2% Ontario GDP

Features — Ontario

• 5,181 direct, induced and indirect jobs
• $3702 million tenge economic profit
• $2081 million due to tax

Features — USA

• 2020 direct, induction and indirect jobs
• $145.3 million tenge received economic benefits
• $82.3 million tax effect

Methodology

For this study, Martin Associates used methodology and definitions to measure the economic impact of seaport operations at more than 700 ports in the United States. Canada for the past 38 years. The economic impacts obtained are based on a telephone survey of members of each of the economic sectors serving the Port's shipping and cargo services, for a total of 1,100 interviews with 800 companies.

Other published data include Statistics Canada and Revenue Canada, as well as the US Bureau of Economic Analysis, the Tax Foundation and the US Census Bureau's annual survey of state and local government finances.

See a summary of the study here.

About the port Montreal

The Montreal Port Authority (MPA), manages the port Montreal is the largest container port Eastern Canada and a diversified transshipment center handling all types of cargo: containerized and non-containerized cargo, liquid bulk and dry cargo. A single container port Quebec, a destination port served by the world's largest shipping lines. It is also an intermodal hub that offers services that are unique North americaThere is a private railway line connected directly to the dockside of Canada two national railway lines. MPA also operates a cruise terminal and port center.

MPA incorporates economic, social and environmental components into its corporate initiatives. This commitment is governed by the Sustainable Development Policy, whose guiding principles focus on participation, cooperation and accountability. Port services support and create 590,000 jobs $93.5 billion provides economic benefits every year.

SOURCE Montreal Port Authority

For more information: Source: Port of Montreal Authority, Rene LaRouche, Director of Communications, (email protected), 514 531-2410