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THE ECONOMIC IMPACT OF VIRGINIA'S PORTS ON THE COMMONWEALTH

James Silberman, G Yoachum

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Abstract

The most important finding of this report is that the port of Hampton Roads is a major economic factor in the creation of jobs, payroll, and taxes in the Commonwealth of Virginia. The port is crucial to the economic diversification, growth, and development of Virginia's economy. Information necessary to calculate the economic impact of the port was obtained through a comprehensive survey of the following industries (firms): those dealing directly with the shipping and handling of cargo; and those who export or import sections along the ship. The Helmholtz equation problem is with personal interviews with port and industry officials. A detailed discussion of the survey design and response rate is presented and the methodology used to calculate tax revenues is discussed in the appendixes.

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What this paper is about

The most important finding of this report is that the port of Hampton Roads is a major economic factor in the creation of jobs, payroll, and taxes in the Commonwealth of Virginia. The port is crucial to the economic diversification, growth, and development of Virginia's economy. Information necessary to calculate the economic impact of the port was obtained through a comprehensive survey of the following industries (firms): those dealing directly with the shipping and handling of cargo; and those who export or import sections along the ship. The Helmholtz equation problem is with personal interviews with port and industry officials. A detailed discussion of the survey design and response rate is presented and the methodology used to calculate tax revenues is discussed in the appendixes.

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Available abstract

The most important finding of this report is that the port of Hampton Roads is a major economic factor in the creation of jobs, payroll, and taxes in the Commonwealth of Virginia. The port is crucial to the economic diversification, growth, and development of Virginia's economy. Information necessary to calculate the economic impact of the port was obtained through a comprehensive survey of the following industries (firms): those dealing directly with the shipping and handling of cargo; and those who export or import sections along the ship. The Helmholtz equation problem is with personal interviews with port and industry officials. A detailed discussion of the survey design and response rate is presented and the methodology used to calculate tax revenues is discussed in the appendixes.

Key concepts: Commonwealth, Payroll, Diversification (marketing strategy), Port (circuit theory), Revenue, Economics, Tax revenue, Personal income

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