PRTODAY / NewswireToday Free press release distribution service network

More news: Economy
Written by / Agency / Source: MAYO Communications

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

New Trade Study Finds LA/LB Ports Set New Records - “The passage of bond proposal last fall provides resources for the urgently needed infrastructure projects in the region,
New Trade Study Finds LA/LB Ports Set New Records

 

NewswireToday - /newswire/ - Los Angeles, CA, United States, 2007/05/11 - “The passage of bond proposal last fall provides resources for the urgently needed infrastructure projects in the region," said Vance Baugham, President of the World Trade Center Association, Los Angeles-Long Beach.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Economy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

International trade activity in Southern California is building to record levels in 2007 despite slower growth in the U.S. economy, according to a new study, “International Trade Trends & Impacts,” released today by the World Trade Center Association – Los Angeles-Long Beach (WCTA LA-LB).

“The total number of containers handled at the Ports of Los Angeles and Long Beach should increase by 9.2 percent to 17.2 million TEUs (twenty-foot container equivalent units),” said Jack Kyser, chief economist of the Los Angeles County Economic Development Corporation (LAEDC), who prepared the study for the WCTA. “By way of comparison, the two ports handled 9.5 million TEUs in 2000.”

The total value of two-way trade at the Los Angeles Customs District in 2007 should grow by 13.9 percent to $375.1 billion. “A piece of good news is that exports out of the customs district should continue to grow rapidly, rising by 14.9 percent, due to the weakness in the U.S. dollar combined with favorable economic conditions in the region’s major trading partners,” said Kyser.

Some other results from the trade report include:

- The ports of Los Angeles and Long Beach retained their number one ranking among the nation’s ports in number of containers handled during 2006. The twin ports ranked fifth globally in container activity.

- The Los Angeles Customs District retained its first place ranking in the U.S. in total two-way trade value. In 2006, Los Angeles recorded a 12.1 percent increase to $329.4 billion. New York remained in second place with a 10.3 percent gain to $295.0 billion.

- In 2006, China continued to widen its lead as the Los Angeles Customs District’s top trading partner with a 15.6 percent increase to $126.0 billion in two-way trade. Japan remained in second place in this measure with a 9.1 percent gain to $50.7 billion. South Korea was third, recording a 15.6 percent increase to a two-way trade total of $20.7 billion.

- The largest export commodity out of the Los Angeles Customs District in 2006 was “electrical apparatus,” with a value of $12.1 billion. The top import commodity was electronic machinery with a value of $34.3 billion.

“The passage of bond proposal last fall provides resources for the urgently needed infrastructure projects in the region," said Vance Baugham, president of the World Trade Center Association, Los Angeles-Long Beach. “This study by LAEDC illustrates the need for all stakeholders to work to together to ensure the revenues are invested wisely to improve container goods movement, and to mitigate environmental concerns.”

- International trade continued to be a reliable employment generator for the Los Angeles five-county area, adding 35,000 good quality jobs in 2006.

“Despite all this good news, the international trade industry in Southern California continues to face a daunting array of challenges that could crimp its growth potential,” noted Kyser. These include:

- The international trade industry has been fiercely criticized about its environmental impacts due to its heavy use of diesel power. Several mitigation efforts are underway, but there needs to be better communication about them to the region’s population.

- Land-side transportation capacity is under extreme pressure, but paying for projects to alleviate them will be expensive. Container fees have been proposed, but there has been a push-back by various groups.

- Port and transportation workers are waiting for implementation of the much-delayed Transportation Worker’s Identification Credential (TWIC). There is concern over both its cost and possible impact on port truckers.

- The labor contract between West Coast shippers and the longshore union expires in June 2008. While there is no early view about the tenor of the negotiations, shippers remember the painful 2002 port disruption and are beginning to hedge their bets.

“The industry has to not only communicate more effectively with local residents, they have to start telling the story nationally that almost everybody in the nation depends on Southern California’s international trade industry,” said Kyser.

About the LAEDC
The LAEDC, the region’s premier business leadership organization, is a private, non-profit organization established in 1981 under section 501(C) (3). Our mission is to attract, retain, and grow business and jobs in Los Angeles County. Since 1996, the LAEDC has helped retain or create more than 132,300 jobs, providing $5.5 billion in direct economic impact from salaries and $94 million in annual tax revenue benefit to Los Angeles County. For more information, please call (888) 4-LAEDC-1. The WTCA LA - Long Beach: International Trade Outlook Report is posted at the LAEDC homepage below.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Economy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: MAYO Communications

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Economy articles,
CATCH Visitors via Your Competitors Announcements!


New Trade Study Finds LA/LB Ports Set New Records

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: George Mc Quade - MayoCommunications.com 
818-340-5300 Pubicity[.]MayoCommunications.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MAYO Communications securities in any jurisdiction including any other companies listed or named in this release.

Economy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From MAYO Communications / Company Profile


Read Economy Most Recent Related Newswires:

Frost & Sullivan’s IKC Enables Companies to Assess their Financial Performance in Relation to their Peers, based on Top-Bottom Scores
Iran Economy Exhibits Renewed Optimism, Open for Investments Across Industries, Targets Export Markets Notes Frost & Sullivan
Elevated Investment of $55.6 bn in Infrastructure Development Anticipated for Kenya Finds Frost & Sullivan
Industry 4.0 Business Ecosystem to Change Dynamics in the Global Industrial Landscape Finds Frost &Sullivan
Frost & Sullivan Assesses the Investment Climate in India and its Impact on Next-Generation Investors
Frost & Sullivan Launches Malaysia Mega Trends Report in Collaboration with Malaysian Investment Development Authority
Austria’s Government to Pass New Tax Package
Global Leaders Identify Critical Issues to Overcome Economic Development Challenges At the Economic Development Innovation (EDI) Council Meeting
Russian Internet Remains Growth Hotspot in the Country’s Economy Finds Frost & Sullivan
Converging Industries and Smart Cities to Present Market Opportunities Worth $1.5 Trillion by 2020 Says Frost & Sullivan
Business Credit Quality Weakened in August Says WAIN Street Business Default Index
GE to Invest $2 Billion in Africa by 2018
Greenville, South Carolina Names New Executive to Lead Economic Development Efforts
Greenville, SC Economic Development Group Announces Strong Job, Investment Creation for 2013
Greenwood, S.C. Economic Development Group Names Heather Simmons Jones as CEO

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)