The Port of Hamilton is an important economic engine in its local community, and throughout the surrounding region. Let’s take a closer look at the economic impact of Ontario’s biggest port:
More than 2,100 people work on-site at port terminals, on shop-floors and in warehouses. A further 1,979 have an indirect or induced employment connection with the Port, providing goods and services to port-based customers. Jobs at the Port of Hamilton are concentrated in three areas: transportation/warehousing, manufacturing and engineering/construction. The average salary in these fields is more than 20% higher than the Ontario average.
On-site employment at the Port of Hamilton has grown 30% since 2009, and this growth ripples through the economy in a number of ways. For example, more than $260 million in labour income is pumped back into the local economy each year through personal spending.
Port cities retain an enviable advantage, concentrating and attracting economic activity within a single location. In Hamilton, close to $1 billion in economic activity is tied to the terminal and other business activities conducted on-site at the Port of Hamilton. Port activities are concentrated in high-value enterprises: transportation and warehousing, manufacturing, engineering construction. Port tenants contribute $5 million in local property taxes each year, making the Port one of the city’s single largest sources of tax revenue.
Hamilton is a proud and dynamic port city, with an optimistic outlook.