The true scale of the economic contribution of Associated British Ports’ two ports in the south west has been revealed in a new report by independent consultants Arup, ABP says in its press release.
Together the two Devon ports - Plymouth and Teignmouth - contribute £100 million to the UK economy annually and support 1,548 UK jobs.
The new statistics show that, of those totals, ABP's South West Ports contribute £75 million directly into the regional economy and support 1,113 jobs in the area.
Together, the Devon ports form a diverse business, with ABP Teignmouth playing a key role in the region's farming industry by handling 250,000 tonnes of agricultural products annually and exporting more than 150,000 tonnes of ball clay, an industry supporting 200 jobs in Devon.
Plymouth is the south west's gateway to Europe, carrying 442,000 passengers in 2013 across 365 sailings a year to Roscoff in France and Santander in Spain.
ABP is committed to developing its ports in Devon with a programme of investment expected to increase their contribution to the regional economy to £110m annually.
Andrew Harston, ABP Director Short Sea Ports, said: "Our ports in the south west are a cornerstone of the regional economy, vital for farmers and key to businesses' ability to tap into global markets.
"I'm proud to report both these impressive new figures and our determination to build on this success with a programme of investment that will deliver significant growth for the regional economy."