- The Port of New York & New Jersey includes the following facilities: Port Newark, the Elizabeth-Port Authority Marine Terminal, the Howland Hook Marine Terminal, the Brooklyn-Port Authority Marine Terminal, the Red Hook Container Terminal, and the Port Jersey Port Authority Marine Terminal.
- The Port of New York & New Jersey processed $172.3 billion of cargo trade revenue in 2013 (US Department of Commerce, Bureau of Census).
- In 2013, the transportation, logistics & distribution industry employed > 364,000 workers in New Jersey.
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China and the US rely on each other for economic growth and trade.
“Low-priced Chinese goods have kept US consumer prices relatively low and served to propel economic growth. Business cooperation with China has, in effect, added an extra 1,000 US dollars to the annual disposable income of each American household.”
“The rising purchase ability of the Chinese people will become a main driver of the Chinese and world economy, which includes the US one.”
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Nearly 90% of all goods traded across borders travel, in part, by sea. The fastest-growing routes are between ports in Asia.
If you own a small business, or are in a position of influence in one, that means looking to export to, or expand into, emerging markets.
“The consumers are overseas; people need to wake up,” says Sandra Westlund-Deenihan, president and design engineer at Quality Float Works.