California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The economic growth in China has increased import and export activity through the different
maritime ports in California. In addition, this growth has spurred interest in the expansion of
California’s marine ports, terminals and facilities.  The Port of Los Angeles plays a key role
in the southern California economy and also across the state.

The economic benefits of the Port of Los Angeles include:

-259,100 full- and part-time jobs (one of every 24 jobs in Southern California)

-1,353,500 jobs nationwide
                                                                                                                                     
 -$26.8 billion annually in industry sales
                                                                                                                                       
-$8.6 billion annually in regional wages and salaries ($1 of every $23 in Southern California)
                                                                                                                                           
 -$1.4 billion annually in state and local taxes
                                                                                                                                       
-Approximately 70% of the regional direct, indirect and induced benefits connected to the Port
occur within Los Angeles County.

I am Tim Johnson and this has been the California Business Minute.