Well-equipped and professionally operated ports can enhance the efficiency and profitability of the businesses that rely on them. At North Carolina Ports our commitment to excellence can help ensure success for shippers, carriers, manufacturers, distribution centers, retailers and the region as a whole. We understand the part we play in the greater economy and welcome productive, long-term partnerships.
North Carolina Ports commissioned the Institute for Transportation Research and Education (ITRE) at NC State University to assess the economic contribution of the state’s ocean ports. This project examined the current economic contribution of port services for the two publicly-owned ocean ports in North Carolina, both on a statewide and economic development region level. According to the study, port activities contribute statewide to $707 million each year in state and local tax revenues and more than 76,000 jobs.
All of those jobs have something in common – they need the services provided by the economic engine that is North Carolina Ports. Businesses desire access to the global markets where their products are sold and their resources are found. The Port of Wilmington and Port of Morehead City provide North Carolina that access, making North Carolina Ports a key factor in North Carolina’s economic growth. And the good news is that the access these ports provide is getting better.
North Carolina Ports is moving forward with a $100 million investment in infrastructure improvements. With new cranes, an enhanced berth, a wider turning basin and further expansion on the way, North Carolina’s Ports will improve upon its operational efficiencies to keep cargo moving and congestion at bay. Specifically, the Port of Wilmington is fully prepared to handle post-Panamax vessels up to the 10,000 TEU class.
And, North Carolina’s ports have momentum. Continuing a recent trend of growth, North Carolina Ports has followed up a banner year in fiscal year 2015 with its best-ever financial year in fiscal 2016.
“In FY15 we broke our record in terms of TEUs moved due to a number of new services, diversions and our lack of congestion,” Executive Director Paul J. Cozza said. “This past year we were able to sustain that positive momentum with our best-in-class efficiencies and superior customer service.”
North Carolina Ports enjoyed a banner year in fiscal 2015 with an 18% increase in containerized cargo volumes year-over-year. By container volume growth percentage, North Carolina’s Ports are among the fastest growing on the U.S. East Coast.
“North Carolina’s Ports have ample capacity to support cargo volumes today and into the future,” Chief Commercial Officer Greg Fennell said. “With an ideal location, significant investment, modern facilities, and our lack of congestion we stand ready to help our customers succeed.”
North Carolina’s Ports in Wilmington and Morehead City, plus inland terminals in Charlotte and in Greensboro, link the state’s consumers, businesses and industry to world markets, and serve as magnets to attract new business and industry while receiving no direct taxpayer subsidy.