LAKE CHARLES, La. (AP) – A new report finds the Calcasieu Ship Channel generates $5.7 billion in local revenue and is projected to produce $4.4 billion more by 2023.
The American Press reports officials with the Port of Lake Charles and two Louisiana firms met Wednesday to talk about the ship channel’s economic impact on the local, state and federal levels and its anticipated growth in line with the industrial expansion projects. The channel now accounts for 46 percent of the Lake Charles area economy.
Ed Bee, president of the Mandeville-based firm Taimerica Management, said the direct employment tied to the channel in 2014 was 36,000 workers, or 31 percent of the area workforce. With the industrial expansion and investment projects, 9,000 additional jobs are expected by 2023, a 25 percent increase.
The channel-dependent companies generated $118 million in annual local tax revenue last year, according to the report. By 2023, that total amount is estimated to be $274 million, an increase of 131 percent. For the full article click here
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