December 27, 2016 — A new study finds the Port of New Bedford generates nearly ten billion dollars in total economic value. That’s the finding of consultants Martin Associates and Apex Companies who were hired by the New Bedford Harbor Development Commission.
Port Director Edward Washburn says the $9.8 billion total reflects businesses that support the fishing and cargo industries, including warehouses, boatyards, ice houses, marinas and other maritime services.
Washburn tells WBSM News, the 40-or so fish processing houses reflect a big part of that economic value. “A lot of folks on our waterfront are sourcing product from around the globe. It’s coming to New Bedford and being processed and then its being set back out around the world,” said Washburn. “The value of that and the number of jobs associated with that is actually, incredible.”
The report says activity in the Port in New Bedford and Fairhaven Harbor in 2015 generated 36,000 direct or indirect jobs.
Washburn says he hopes the report will help generate more investment in the port, and enable some much needed improvements to get done. “Developing the North Terminal, north of where our existing bulkhead ends, really extending that and seeing what else you can bring in terms of fish processing and harvesting, but also the offshore wind industry.”