University Study Shows Coal Exports Economic Impact in Virginia (National Mining Association)
Study: Coal Exports Contributed $500 Million to Hampton Roads in 2011
The State of the Region Report published this week by the Old Dominion University Economic Forecasting Project highlights the significant economic impact of coal export shipments from Hampton Roads, Va. The study found that coal exports contributed $500 million in direct economic impact and 1,100 jobs to the area in 2011. When indirect and induced effects are accounted for, it becomes even clearer how important coal export shipments are to Hampton Roads. Indirect and induced benefits to the area included more than $900 million in goods in services, $200 million in earnings across all private sector industries and almost 4,200 jobs.
A complete copy of the research is available here.
Not only is it the most influential coal exporting region in the U.S., but Hampton Roads is also one of the largest exporting regions in the world. In 2011, more than 47 million tons of coal were shipped from the Dominion Terminal Associates and Kinder Morgan facilities in Newport News and from the Lambert’s Point facility. Coal exports from Hampton Roads have nearly tripled since 2011, increasing its contribution to the community.