Port of London's Economic Contribution
The Port of London generates over 46,000 full time jobs and contributes £3.7 billion to the economy every year, according to new research findings revealed by the Port of London Authority (PLA) at a City reception last night.
Each year the Port handles over 50 million tonnes of cargo from fuel to food, cars to containers. The jobs linked to the Port are diverse and include manufacturing workers, cargo handlers, drivers, warehouse staff and ships' agents. Plants whose operations depend on the Port as part of their supply chain include Tate & Lyle, the raw cane sugar for which comes from Mauritius, Fiji and the Caribbean; Petroplus, importing crude oil for refining into an array of fuels; and Ford, which supplies by sea diesel engines made at Dagenham to factories in Europe.
Simon Sherrard, chairman of the PLA, which this year celebrates its centenary, commented:
"This study shows how vital the Port is to the modern London economy. It is generating employment for 46,000 people whose work ensures that we all have the goods, food and fuel we need for our daily lives. The value added as materials are processed and products exported from the Port are a key to London's manufacturing base.
"The great news is that the future of the Port looks strong. Despite the current challenging economic times, significant investment is planned, valued at over £4.8 billion over the next ten years."
The research was commissioned by the PLA from SQW Consulting. A summary of the research findings can be downloaded here. (pdf file - 1.82mb)