Economic Impact Study Released for Michigan Ports
- Business & Finance
The Michigan Port Collaborative (MPC) last week released the results of the first ‘Full Spectrum’ economic impact study of Michigan ports ever conducted in this state.
According to Felicia Fairchild, President of the Michigan Port Collaborative (MPC),”While a number of economic impact studies have been conducted over the years, those studies focused on traditional maritime measurements. We devised this ‘full spectrum’ study to also include economic drivers for individual ports that add economic values which have not been included in previous studies such as port specific businesses, port specific tourism and port specific recreation.”
“We had a hunch the economic value of our ports and harbors was far greater then previously reported.”
Denny Blue, MPC Secretary, added: “The MPC is a 501C3 not-for-profit organization that has been involved in representing the ports of Michigan for over a decade on issues that are critical to the economic success of all port communities.”
“When lake levels dropped drastically in 2009, concern regarding the economic viability of many Michigan ports began to wane at the state and federal levels. The dredging and infrastructure challenges caused by low water levels created a trend in thinking, among some state officials, that our ports and harbors were an economic liability.”
The study was commissioned by the MPC in November 2017 and conducted by Dr. Vincent Magnini, PhD., Executive Director of the Institute for Service Research in Virginia Beach, Va.
Bill Boik, Consultant, retired from the State of Michigan Department of Natural resources, also contributed to the study and participated in the nine-day tour of port and harbor communities who helped finance the project.