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Details about the economic engine
Virginia Business// April 28, 2022//
In fiscal 2021, the Port of Virginia set cargo records, generating more than $100.1 billion in ancillary economic impact, according to a report from William & Mary’s Raymond A. Mason School of Business in conjunction with Glen Allen-based Mangum Economics. The six-terminal system generated 436,667 jobs, $47.4 billion in Virginia gross state product, $27.2 billion in labor income and $2.7 billion in state and local taxes and fees. Meanwhile, the port finished infrastructure projects at its Norfolk terminals, and its dredging project to become the East Coast’s deepest port by 2024 has stayed on track. Illustrations by Doug Fuchs.
