With trade supporting one in four jobs in the region, the export industry remains the backbone of the Northwest economy. But the Northwest needs to expand export capabilities to keep up with the growing competition. Canadian and other U.S. Port regions are making substantial investments to take advantage of America’s growing trade with Asia – threatening our position as North America’s gateway to Asia.
Today, over a billion dollars in new private investments have been proposed to expand shipping at existing Northwest ports. A driver of the investment is the growing demand for affordable energy in Asia.
While the shipment of coal will provide much of the investment for this expansion, other industries will benefit from increased trade and new investment in rail and ports. Industries like agriculture, timber, aluminum and manufacturing, many based here in the Pacific Northwest.
The proposed expansions to existing port facilities are important to securing our economic future. Increasing exports will balance America’s trade and grow our economy.