Port Houston’s market strength and strategic location produces a winning combination for business growth and increased industrial development. The economic impact of Port Houston is significant, accounting for more than 1.2 million jobs and an economic value of $265 billion for the region. Port Houston generates $5 billion in state and local tax revenue annually and provides $56.5 billion in personal income and consumption expenditures.
Port Houston is recognized as the No. 1 U.S. port in foreign waterborne tonnage and is the No. 3 ranked U.S. port in terms of total foreign cargo value. Having 45% of the Texas market share by tonnage and 96% market share in containers by total TEUs in 2017, it is clear that Port Houston is a key player in this significant statewide recognition. The Port is the largest Gulf Coast container port, handling 68% of U.S. Gulf Coast container traffic in 2017.
Port Houston handled 38.3 million tons of cargo in 2017, up from 35.1 million tons in 2016. In 2016, the Port Commission approved an aggregate capital budget of $314 million for various infrastructure projects. Current capital improvement projects include adding or improving motorized and non-motorized transportation infrastructure, sanitary and storm-water sewer infrastructure, city facilities and other key projects. The projects are taking place at Turning Basin Wharf 23, Turning Basin South, BCT Wharf 3, BCT East End and C1, and the Bayport Wharf 2. One of the future projects will improve mobility and logistics, constructing 6,500 feet of rail across SH 146 to connect with the existing rail line to within 900 feet of the Container Freight Station Road in the Bayport Intermodal Facility.
This Port Houston overview is part of the annual 2018 Houston Economic Outlook. For the full report click here.
Sections covered in the full report include:
- Population Growth
- Employment Sector
- Business Climate
- Global Energy Capital
- Petrochemical & Plastics Industry
- Port Houston
- NASA/Johnson Space Center
- Mobility Infrastructure
- Airport System
- Texas Medical Center
- Biosciences & Biotechnology