The Port of Mobile's economic impact on Alabama continues to grow and shows no signs of slowing down any time soon. According to a study commissioned by the Alabama Ports Authority, it will have an economic impact of $98.3 billion for Alabama in 2023.

This is an increase of $13 billion from the 2022 impact.

“Gulf Coast ports may be called 'ports of mobile,' but their staggering $98 billion in economic impact means they are really 'ports of Alabama,'” Ivey said. The governor spoke from the steps of the state capitol. Thursday.

“Whether it's the burgeoning auto industry, natural resources like coal and limestone, or the export of countless other made-in-Alabama and Alabama-made goods, the Port of Mobile touches every corner of the state and every industry.”

“The future of our port is bright and we look forward to its growth continuing to serve and impact the entire state of Alabama.”

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The port supports 351,359 jobs in Alabama, which is one in seven jobs in the state. These jobs represent $22.5 billion in income for Alabamians in all 67 counties.

Alabama Senate Pro-tem Sen. Greg Reed (R-Jasper) called the port an “economic powerhouse” that is growing every day.

“The success of Alabama's coal industry is closely tied to the Port of Mobile, as coal is one of the port's largest exports and my district is the state's largest coal producer,” Reed said. Stated.

“I am proud of this port and its mission. I am pleased, but not surprised, that this port has an incredible economic impact on our great state.”

Alabama Assembly Speaker Nathaniel Ledbetter, who lives in northern Alabama a few hours from Mobile, said he feels the port's influence in his home district.

“Geographically, my home district is not that far from the Port of Mobile, but the port's impact on my district and the districts of nearly every member of the Alabama House of Representatives is significant,” Ledbetter said. said. “It is clear that our commitment to investing in our ports is delivering impressive benefits to our state, and continuing to support this economic engine is essential to Alabama’s continued success.”

Port Authority leaders expect even more rapid growth.

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“Alabama's ports are experiencing tremendous growth, and we are just getting started,” said John Driscoll, director and CEO of the Alabama Port Authority. “These impact numbers demonstrate both the benefits of Alabama’s ports to the state as a whole and the important role of the state’s investments in helping achieve that growth.”

“With more than $1 billion in capital projects underway, we expect this growth to continue and, more importantly, we expect Alabama businesses to continue to become more globally competitive. I am.”

The port currently has more than $1 billion in capital projects underway across the state. Much of it is funded primarily by federal appropriations and grants championed by former Sen. Richard Shelby.

The Port Authority plans to expand its capacity to 1 million TEUs (20-foot equivalent unit cargo containers) once the Phase IV expansion of the container terminal is completed. In addition to the terminal expansion and port deepening and expansion projects, the Alabama Ports Authority plans to develop a logistics facility in Mobile and open a new inland intermodal facility serviced by CSX in Montgomery, Alabama.

These projects are expected to begin within the next two years and will provide new benefits and opportunities for shippers.

Other investment plans include building a viaduct to create rail access over the dock at the container terminal, modernizing the general cargo pier, and developing an inland intermodal facility in northern Alabama. The Alabama Legislature also allocated $20 million in 2023 to modernize the port's McDuffie coal terminal.

In 2022 alone, the port and its associated industries returned $2.4 billion in taxes to state, local, and federal governments.

Austin Shipley is a staff writer at Yellowhammer News.