A nuclear disaster at the San Onofre nuclear power plant could shut down both the Long Beach and Los Angeles ports. Any cost benefit analysis of whether to restart San Onofre should include the economic impact of such a possibility.
According to the Pacific Merchant Shipping Association:
California’s ports serve as a major economic engine for the state and the nation. In 2008, port facilities processed an estimated $500 billion of goods [$559 billion in 2011]. More than 40 percent of containerized imports enter the country through California ports, and nearly 30 percent of the country’s exports depart through them. Their far-reaching economic contributions to the regional economy include:
- The ports of Los Angeles and Long Beach generate more than $10 billion in state and local tax revenues a year.
- Businesses that receive imports or ship exports through the Port of Los Angeles generate about $12.1 billion and stimulate an additional $5.5 billion in local industry indirect sales.
- Employees for businesses that receive imports or ship exports through the Port of Los Angeles spend about $4.1 billion in the region.
- With more than $100 billion of cargo moving through the Port of Long Beach every year, foreign and domestic shippers and steamship companies spend more than $5 billion in the region.
- More than $10 billion a year is spent on wholesale distribution services for goods imported through the Port of Long Beach.
California ports also have a significant nationwide impact:
- More than three million jobs across the country are linked to California’s public ports.
- The Port of Los Angeles generates $21.5 billion in federal tax revenue.
- More than $32 billion a year is spent nationwide on wholesale distribution services for goods that come through the Port of Long Beach.
Click here to view Port of Long Beach website. Click here to view CA Dept. of Finance “Foreign Trade through California Ports“. .
The unleashed power of the atom has changed everything save our modes of thinking and we thus drift toward unparalleled catastrophe. –Albert Einstein Leaders need to operate on the basis of facts, not wishful thinking. –Madeliene Albright