Port Houston’s market strength and strategic location along the 52- mile-long Houston Ship Channel produces a winning combination for business growth and increased industrial development. The economic impact of Port Houston is significant, producing more than 1.35 million jobs and an economic value of $339 billion for Texas. Port Houston generates $5.7 billion in state and local tax revenue annually.
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 2018, 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 69% of U.S. Gulf Coast container traffic in 2018.
Port Houston handled 40.9 million tons of cargo in 2018, up from 38.3 million tons in 2017. In 2016, the Port Commission approved an aggregate capital budget of $314 million for various infrastructure projects. Current capital improvement projects include Bayport rail spur and container yard construction, improvement of existing drainage system tied to IH-610 feeder road at the Turning Basin terminal,rehabilitation of Barbours Cut container yard and Wharf 3, construction of electrical infrastructure and lash dock demolition and annual pavement replacement and wharf and RTG crane painting for both terminals. Some of the future projects include further rehabilitation of wharves, adding a fire boat dock at Bayport’s west end, expansion of gate facilities and construction of a maintenance facility at Barbours Cut, construction of 42 acres of container yard and port road expansion and drainage at Bayport.
This Port Houston overview is part of the annual 2019 Houston Economic Outlook.
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