A lake carrier ship makes it way up the Cuyahoga River from Lake Erie, past Downtown Cleveland. A new report by the Ohio Department of Transportation shows how important the maritime industry is to Greater Cleveland’s economy (Port of Cleveland). CLICK IMAGES TO ENLARGE THEM.
2024 a record year for local Port revenues
The Port of Cleveland and the maritime-dependent industrial sector are showing resiliency and growth as an economic force in Northeast Ohio, according to a new study commissioned by the Ohio Department of Transportation (ODOT). The latest analysis reveals the port and maritime sector generates more than 23,000 jobs and over $7 billion in economic impact, a notable increase of $2.3 billion since 2021.
The report, conducted by John C. Martin Associates LLC, an internationally recognized leading transportation economics firm, underscores the vital contribution of port and maritime-based activity to the region’s economy and its expanding impact on jobs, income and tax revenue. Notably, the report wasn’t commissioned by the Port of Cleveland.
Key findings from the report include
- Total Economic Impact: $7.07 billion (up from $4.7 billion in 2021)
- Total Jobs (direct and indirect): 23,758
- Personal Income: $1.89 billion
- Local and State Taxes: $189 million
Two “salties” were doing international business in the Port of Cleveland during a recent rain storm. The Aujaq of the Netherlands paused here before heading on to Burns Harbor, IN while the BBC Leda of Antigua Barbuda was loading containers for Antwerp, Belgium (YouTube).
This surge in economic impact is attributed to increased iron ore tonnages — up to nearly 9 million metric tons in 2023. Another factor was higher output — cargo throughput, vessel traffic, etc. plus and improved salaries and income multipliers.
“Cleveland’s harbor and river system is not just a local maritime and recreational asset — it’s a major economic powerhouse,” said Port President and CEO Will Friedman in a written statement. “As the public guardian of the maritime sector, the Port of Cleveland continues to prove itself as an economic engine for Cuyahoga County and Northeast Ohio.”
“These numbers demonstrate we are headed in the right direction, and I am especially gratified to see this report as I conclude my tenure,” he said.
Friedman made those remarks as he wraps up his work at the port. In October, he announced his decision to step down at the end of the year following the expiration of his contract. Friedman and the port authority’s board could not reach agreement on a new contract.
The Cleveland-Europe Express is a bi-weekly, containers-only shipping service between the Port of Cleveland and Antwerp, Belgium. Cleveland has the only regularly scheduled container shipping on the Great Lakes (Port of Cleveland).
Stefan Holmes, Port board chair, added: “The Port plays a vital role in the economic fabric of Northeast Ohio, supporting industries, creating jobs and strengthening communities. While its contributions often go unnoticed, the impact is undeniable.”
The data was developed as part of ODOT’s Ohio Maritime Plan — Economic Value Analysis.
The Port of Cleveland’s influence extends far beyond maritime operations, leveraging its unique authority under Ohio law to finance transformative job-creating and neighborhood projects. In 2024 alone, the Port approved a record 20 real estate projects for approximately $753 million in development financing.
“This milestone reinforces that the Port’s economic development tools are more relevant than ever,” Friedman added. “Our unique combination of shipping services, infrastructure investment, and financing capabilities has proven to be a potent combination for driving growth and job opportunity across the region.”
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