Martin Associates Study: Port of New Bedford has $9.8 billion value

The Port of New Bedford had a $9.8 billion economic value in 2015 and generates more than 36,000 jobs in the region, according to a new state-funded study that city and waterfront leaders hope will spur additional state investment in harbor dredging and other improvements. The study indicates the local port’s economic impact is comparable to that of the Port of Boston, which generated more than 50,000 jobs and had a total economic value of $4.6 billion in 2012, according to Martin Associates. The Pennsylvania-based firm also studied the Port of Boston’s economic impact in 2006, for the Massachusetts Port Authority (Massport), and has examined economic impacts of seaport activity in more than 120 U.S. and Canadian ports, from Seattle to Tampa. Martin Associates also conducted the $80,000 Port of New Bedford study, which was funded by a grant from the state’s Seaport Economic Council and included interviews and surveys with 147 companies involved in local harbor-related business. Ed Anthes-Washburn, port director for the city’s Harbor Development Commission, said much of that impact comes from the waterfront’s seafood processing industry — and called the study’s results eye-opening. Read the story here 14:01