Newly mandated study sizes up impact of Portland's working waterfront
Courtesy / William Needelman, City of Portland
A new study, mandated under a 2019 ordinance, quantifies the economic impact of Portland's waterfront.
Portland’s waterfront businesses — both those related to marine commerce and those that are not — generate over $800 million in annual economic output, a new, first-of-its kind study says.
The “State of the Waterfront” study, presented Monday to the Portland City Council, also found that the area supports 7,700 jobs and that businesses there take in annual revenues totaling more than $1 billion.
The study was conducted earlier this year by economic consultants AECOM, a Los Angeles firm with a South Portland office, and Maine-based Rachel Bouvier Consulting. The analysis represents the city of Portland’s first look at the economics of its working waterfront under an ordinance passed in August 2019.
The ordinance requires the city to conduct studies of the waterfront every three to five years, looking at “key indicators of economic health for marine industry,” such as employment and business output value.
Portland planners will use the research findings to develop land use and community development policies as well as capital budgeting for marine infrastructure, according to a city memo. The data will also help with applications for outside funding, such as the city’s continued search for federal assistance in dredging Portland Harbor.
AECOM and Bouvier conducted their initial research from February to April at a cost of $50,000. The project included surveys of more than 350 businesses along the Portland waterfront.
In addition to the Portland findings, the consultants developed a report to support the dredging plan and a report for the city of South Portland. The Portland analysis was formally accepted by the City Council at its meeting Monday night.
Other takeaways
In addition to highlighting the overall economic impact of Portland’s waterfront commerce, the report found other evidence of its large role.
- Marine-related businesses on the waterfront generate $650 million in annual revenue, nearly twice the revenue of non-marine businesses, $373 million.
- However, non-marine businesses employ 4,600, more than double the workforce of marine businesses, 2,250.
- Among marine businesses, seafood manufacturing and wholesaling represents the largest share of annual revenue, $162 million. But the marine transportation and port services sector accounts for the largest share of employment, with 550 jobs.
- Among non-marine businesses, restaurants and bars in the waterfront area account for the largest share of revenue, $186 million, and the largest share of employment, 3,160 jobs.
The report also noted that the waterfront’s economic output of $800 million represents 4% of the greater Portland region’s total output.
To view the report presentation, click here.
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