Port Authorities and Economic Development

Port authorities are major players in economic development in many states. Not only because of their role in goods movement, which is vital to the economy, but also through their various special financial and real estate tools that help businesses to grow and expand. Many ports also play an important role in waterfront development and tourism.

Ohio ports, like the Port of Cleveland and the Toledo Port, are major contributors to regional economic development. Their enterprise bond fund program has been a valuable source of funding to many companies expanding in Ohio.

Ports are susceptible to the economic downturn, just like everyone else. Stop by the American Association of Port Authorities' website to learn more about this issue and other trends impacting the port industry. Go here.