Port Indirect Source Rule
Newsletter 7
Dear Friend:
This newsletter is distributed to those groups and individuals who have expressed interest and/or concerns about the Ports ISR to be updated on key developments. We hope to see you online soon.
The California Center for Jobs and the Economy recently released a comprehensive economic report showing that the Ports of Long Beach and Los Angeles are vital economic assets driving job growth and supporting the prosperity of Southern California, the state, and the nation. The Report highlights that the Ports support roughly one out of every 51 jobs in the U.S., contributing over $47 billion to the economy in 2022.
Read the full economic study HERE
The report highlights the economic significance of the San Pedro Bay Ports as North America's largest container port complex. Serving as the gateway to Pacific Rim trade for the nation, the complex is the foundation of Southern California's trade cluster and the most reliable source of middle-class job growth.
The ports drive job creation, income generation, and state and local tax revenues, facilitating the flow of consumer goods and industrial components vital to the state and national economies.
However, a potential Indirect Source Rule (ISR) that would cap total cargo volumes could severely affect the ports and the wider supply chain.
Politico’s “California Playbook” column highlighted an Economic Study confirming the vital role of these ports, the largest container port complex in North America, in regional, state, and national economies. The piece addresses challenges from new local regulations or emissions caps, emphasizing concerns about potential job losses among labor unions and the supply chain, and the risks to state and local tax revenues if competitiveness and economic growth are affected.
To read the Politico piece – please click HERE.
Let’s Get Social:
New report from the California Center for Jobs and the Economy underscores the critical role of the Ports in driving job growth and prosperity in Southern California. These vital economic assets fuel the region's middle-class job growth, income, and tax revenues. Proposed Indirect Source Rules which could pose challenges to this vital trade network should be avoided. #NoCargoCap #NoPortsISR STUDY
Unlocking the economic powerhouse of the Ports of Long Beach and Los Angeles: a new report sheds light on their pivotal role in driving job creation and prosperity across Southern California and the nation. We must avoid any proposed regulations that may disrupt this vital lifeline. #NoCargoCap #NoPortsISR STUDY
If you know of anyone who should be added to this newsletter, please have them reach out to Natasha Villa at nvilla@pmsaship.com.