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v:shapes="_x0000_i1026"><![endif]><br> <b><i><span style='font-size:7.5pt;color:#002041'>915 Washington Street NE, Olympia, Washington 98501 &nbsp; Tel 360.528.8000 &nbsp; Fax 360.528.8090 &nbsp; Web </span></i></b><a href="file:///W|/WPPAweb/washington_ports/www.portolympia.com"><b><i><span style='font-size:7.5pt;color:#002041'>www.portolympia.com</span></i></b></a> <br> <br> <b><i><u><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#002041'>For immediate release</span></u></i></b><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </span></b><br> <b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>Jan. 25, 2011</span></b> <br> <br> <b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>Contact:</span></b> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>Kathleen White, Communications &amp; Government Relations Manager </span><br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>(360) 528-8012 ~ </span><a href="mailto:kathleenw@portolympia.com"><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>kathleenw@portolympia.com</span></a> <br> <!--[if gte vml 1]><v:shape id="_x0000_i1027" type="#_x0000_t75" alt="" style='width:562.8pt;height:9pt'> <v:imagedata src="012511olympia_files/image002.gif" o:href="cid:_1_030A7B5C030A7850006517F388257823"/> </v:shape><![endif]--><![if !vml]><img border=0 width=750 height=12 src="file:///W|/WPPAweb/washington_ports/012511olympia_files/image002.gif" v:shapes="_x0000_i1027"><![endif]></p> <p align=center style='text-align:center'><b><span style='font-size:18.0pt; font-family:"Arial","sans-serif";color:#002041'>Economics Firm Documents Port s </span></b></p> <p align=center style='text-align:center'><b><span style='font-size:18.0pt; font-family:"Arial","sans-serif";color:#002041'>Contributions to Local Economy</span></b> </p> <p align=center style='text-align:center'><b><span style='font-size:13.5pt; font-family:"Arial","sans-serif";color:#002041'>Local economists oversaw study which surveyed 100% of Port tenants </span></b></p> <p style='margin-bottom:12.0pt'><br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>OLYMPIA  Dr. John Martin of Martin Associates presented information about the Port of Olympia s impact on local jobs, wages and salaries, business revenue and taxes at the Commission meeting on Jan. 24, 5:30 PM. &nbsp;Martin is the chief analyst and author of <i>Economic Impact of the Port of Olympia</i> which is based on 2009 financial data, the most recent figures available. </span><br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Martin commented that the report confirms excellent economic results, and that  It is also a tool for making good business decisions going forward. </span> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>&nbsp; The Port commissions an economic impact study every five or six years, said Ed Galligan, Port Executive Director.  What sets this study apart from most is that Martin Associates survey by speaking directly with 100% of Port tenants, giving a 100% participation rate. Martin is known nationwide for this method which gives their economic impact studies high credibility. It is a major reason they were selected over other firms who submitted proposals for this project. We are confident about the reliability of Martin s results. </span> <br> <br> <b><span style='font-size:13.5pt;font-family:"Arial","sans-serif"'>How Port Impacts Local Economy</span></b> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>The Port overall including Marine Terminal, Swantown Marina and Boatworks, Olympia Regional Airport and the Real Estate businesses, their tenants and Marine Terminal customers generated the following impacts (2009):</span> <br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>7,249 total direct, indirect and induced jobs &nbsp;</span> <br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>83% of the direct jobs are held by residents of Thurston County</span> <br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$350.7 million in total wages, salaries and local consumption expenditures </span><br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$1.1 billion in revenue generated by local businesses </span><br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$439.7 million in local purchases </span><br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$31.2 million in state and local tax revenue </span><br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$94.3 million in Federal tax revenue</span> <br> <span style='font-size:10.0pt;font-family:Symbol'>· </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size: 10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt; font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family: Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:Symbol'> </span><span style='font-size:10.0pt;mso-ascii-font-family:Symbol'>&nbsp;</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>$10.2 million invested by the Port in fixed assets and infrastructure during and despite the economic conditions existing in 2009</span> <br> <br> <b><span style='font-size:13.5pt;font-family:"Arial","sans-serif"'>Local Economic Experts Oversaw Study</span></b> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Kevin Ferguson, Port Finance Director and Chief Financial Officer, had overall responsibility for the study. He invited economic experts who live and work in Thurston County to oversee the process. &nbsp;The Port is proud that these distinguished experts volunteered to help select a contractor, monitor the process and review the results.</span> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>After the Port s public Request for Proposals process, the support team recommended Martin and Associates as the contractor to conduct the study. Following staff s negotiations with the contractor, the Port Commission authorized Executive Director Ed Galligan to contract with Martin for a total of $41,000. </span><br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>. &nbsp; &nbsp; &nbsp; &nbsp;Among the entities that commission economic impact studies are ports, colleges and universities, businesses and industries, chambers of commerce, associations and non-profit organizations.</span> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>While the Port commissioned the study and it focused on Port operations, the Port also released the full study to all local communities for their use as well.</span> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>See the full report at </span><a href="file:///C:\DocumentsandSettings\kathleenw\LocalSettings\Temp\notes692387\www.portolympia.com"><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>www.portolympia.com</span></a><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>.</span> </p> <p class=MsoNormal align=center style='text-align:center'><br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>###</span></p> <p class=MsoNormal><br> <br> <b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>About the Port of Olympia</span></b> <br> <span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#002041'>The southernmost deepwater port on Puget Sound, the Port of Olympia owns and operates an international shipping terminal that handles a range of breakbulk and project cargoes. The Port also owns and operates a regional airport, a 733-slip recreational marina and boat haulout/repair facility, and a real estate division. &nbsp;The community port generates an estimated 7,249 jobs in Thurston County and the region. </span></p> </div> </body> </html>