PORT ARTHUR, Texas--(BUSINESS WIRE)--The Sabine-Neches Navigation District today released a report by Dr. Ray Perryman highlighting the national economic benefits of the Sabine-Neches Waterway and projections for the impact of a proposed waterway improvement project. The improvement project is expected to create thousands of jobs, generate billions of dollars in national gross product and enhance U.S. trade infrastructure.
“The impacts of the Sabine-Neches Waterway reach virtually every state in the country, whether it’s the fuel produced along the waterway or jobs and investment created by waterway operations”
“The impacts of the Sabine-Neches Waterway reach virtually every state in the country, whether it’s the fuel produced along the waterway or jobs and investment created by waterway operations,” said Perryman, president of The Perryman Group.
According to Perryman’s report, the Sabine-Neches Waterway and associated industry operations are currently responsible for nearly 300,000 permanent jobs across the United States. More than half of those jobs are in Texas. The waterway also generates more than $32 billion in gross product in the United States annually, about $20 billion of which is generated in Texas.
A proposed project to deepen the waterway from 40 to 48 feet would allow larger ships to reach its ports and industrial facilities – a crucial step given the recent deepening of the Panama Canal. These improvements would allow the waterway to meet growing transportation needs resulting from billions of dollars in recent and announced investment in the area, meanwhile ensuring the waterway continues to attract new growth and development.
The deepening project would create an additional 176,000 new permanent jobs in the United States, according to the report, resulting in a total of nearly half a million U.S. jobs related to waterway operations. Furthermore, national gross product generated annually by waterway operations would nearly triple, totaling more than $89 billion.
In Texas, the report projects that the deepening project would create an additional 115,000 new permanent jobs.
“The Sabine-Neches Waterway is a vital component to our nation’s transportation system,” said Congressman Randy Weber, R-Texas, whose district includes the waterway. “By deepening the Sabine-Neches Waterway, larger ships will be able to reach the local ports in Jefferson County, which will be a critical component to growing industries along the waterway. The return on investment for this project will not only have a great impact on the local economy but it will be felt throughout the nation.”
The Sabine-Neches Waterway is the nation’s fourth largest waterway, transporting more than 100,000 tons of cargo each year. It is the nation’s No. 1 crude oil import channel, the No. 1 refiner of jet fuel and home to the No. 1 commercial military outload port. Additionally, 55 percent of the nation’s strategic oil reserves are supported by the waterway. Refineries along the ship channel refine a minimum of 13 percent of America’s daily fuel consumption.
“In addition to the astounding economic benefits it provides, it is an integral component of U.S. energy and military transportation infrastructure. It’s also the No. 1 refiner of jet fuel in the nation, and the majority of U.S. military jet fuel is refined right here on our waterway,” said Paul Beard, Chairman of the Sabine-Neches Navigation District, the local sponsor of the waterway.
About the Sabine-Neches Navigation District
The SNND responsibly manages, advocates for and improves the ship channel and navigable waters of Jefferson County to enhance the economy, environment and quality of life in Southeast Texas. The SNND is a political subdivision of the state of Texas and has operated in Jefferson County for more than 100 years. The Sabine-Neches Waterway is an engine that drives the economies of Southeast Texas and the U.S., pumping billions of dollars into the economy and generating nearly 300,000 permanent jobs.