BROWNSVILLE, Texas - The Port of Brownsville is a major economic engine for the entire state and for the rest of the world, the acting state comptroller said.
Kelly Hancock is here on a three-day stop to highlight the importance the deep-water facility plays in the global economy and the financial health of the Lone Star State.
“We are the eighth largest economy in the world,” he said, following a tour of the port this Wednesday, Dec. 17. “Our unemployment rate is at four percent and the sales taxes average 9.4 percent here in South Texas.”
Hancock said the port generates thousands of jobs and the growth taking place here is making families stay. He said it is also attracting people from other places to work here.
"The Port of Brownsville isn’t just moving cargo — it’s moving opportunity for South Texas," Hancock said in a press release announcing the results of the study.
"As one of the vital gateways in the nation’s trade network, Brownsville helps drive international commerce, attract investment and create good-paying jobs. Ports like this are a key reason Texas continues to lead the country in global trade and economic growth."
As the state’s chief financial officer, Hancock’s office issued a fact sheet detailing the port’s commercial activity.
The report shows the port contributes to $22.7 billion of the total trade of $1 trillion out of the 32 ports located along the Texas Gulf Coast.
Its direct and indirect jobs stands at more than 101,000 while its gross domestic product is of nearly $12 billion.
It also shows that Mexico is the leading destination for exported goods, receiving close to 93 percent of all the commodities from the port.
Hancock said he has been at the port before and was impressed about the vision its leaders have as they work together for a common goal.
He also said the availability of land and the dredging project going on are of significance importance for the port’s future.
William Dietrich, the port director, said the economic outlook of the port is as good as it has ever been.
Esteban 'Steve' Guerra, the port‘s board chairman, said the state comptroller’s report shows that the port is always staying true to its mission of creating jobs and contributing to the local and state economies.
"The findings of this economic impact study clearly demonstrate the Port of Brownsville’s vital role in strengthening Texas’ economy and supporting growth in the Rio Grande Valley," Guerra said.
"From global trade and industrial development to job creation and infrastructure investment, the port continues to deliver measurable value for the state while positioning our region for long-term competitiveness."
