Lake Charles ranks third in the nation for areas whose economic growth and jobs rely on exports, according to a recent report by the Brookings Institution, a Washington, D.C.-based think tank.
The report, titled “US metros most exposed to a Trump trade shock,” notes that trade “is underpinned by local collections of firms” that are often concentrated in “industrial clusters.”
These areas could suffer if other countries impose high fees or decline to accept local exports in response to high U.S. import tariffs.
“Trade involves millions of workers in hundreds of real and varied places, and often drives crucial local commerce,” write the authors, Joseph Parilla and Mark Muro.
“The coming trade debates will not be remote from America’s metros and communities.”
The Lake Charles metro area has a 36.9 percent export share of gross domestic product by all industries. It has 4,360 direct export-supported jobs and 16,583 total export-supported jobs.
Beaumont, Texas, ranked second in the report’s “export intensity ranking,” with 40 percent export share of GDP by all industries, along with nearly 8,700 direct export-supported jobs and 33,100 total export-supported jobs.
Baton Rouge was ranked ninth, with 24.3 percent export share of GDP, 13,309 direct export jobs and 42,305 total export-supported jobs.
While the value of goods and services exported comes from larger cities like New York, Los Angeles and Houston, smaller metro areas, like Lake Charles, rely more on exports for their economic prosperity, according to the report.
“It’s always an interesting fact when you come from the small community that we have,” Port of Lake Charles Director Bill Rase said Thursday. “It shows we are receptive to the types of jobs that are here and available. It’s a good thing for us.”
Rase said the report’s findings are directly related to the chemical and energy industry in the Lake Charles area. He said the port is listed as one of the nation’s top five energy ports.
“All of that kind of ties together,” Rase said. “A lot of the feedstock, oil and natural gas, comes in by vessel and pipeline. The feedstock is turned into a variety of products, and those are exported out, mostly by ship.”
Rase said the Calcasieu Ship Channel is a vital asset to the economy on the local, state and international levels. However, he said its impact is often overlooked.
“It always surprises me that the Ship Channel is as overlooked as it is,” Rase said. “As we progress and get more involved in the export of liquefied natural gas, our numbers are going to rise.
Online: www.brookings.edu.
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