Proceedings magazine is a communication tool for the Coast Guard's Marine Safety & Security Council. Each quarterly magazine focuses on a specific theme of interest to the marine industry.
Issue link: http://uscgproceedings.epubxp.com/i/707823
14 Proceedings Summer 2016 www.uscg.mil/proceedings coastline. It includes activities that extract key products from the ocean, such as fishing, oil and gas exploration and production, and sand and gravel mining. It also includes activities that drive and sup- port commerce in the ocean such as construct- ing commercial and recreational vessels and dredging navigational channels. Ocean-based tourism and recreation are also important parts of the ocean economy. In 2012, the ocean economy accounted for 2.2 percent of the nation's employment and 2.1 percent of the national gross domestic product. There were 147,000 businesses that employed 3 million people who were paid more Graphic courtesy of NOAA. Administration (NOAA) defines coastal counties as those that have a coastline bordering the open ocean or contain coastal high hazard areas that the Federal Emergency Management Agency identifies as a special flood hazard area. Using NOAA's definition, there are 400 coastal counties in 30 states. Although the ocean economy is most directly affected by ocean management decisions, the coastal economy warrants special consideration for at least two reasons: its enormity and its vulnerability to coastal storms, tsu- namis, and other ocean-based hazards. The U.S. Ocean Economy The nation's ocean economy is also huge, employing more people than home construction and crop produc- tion combined. As expected, much of the ocean econ- omy is concentrated in the counties along the nation's The relative size of the ocean economy. Graphic courtesy of NOAA. Economics: National Ocean Watch Data Center Sources Employment Wages Number of business establishments Bureau of Labor Statistics, Quarterly Census of Employment and Wages Gross domestic product Bureau of Economic Analysis, Gross Domestic Product by State Employment Wages Self-employed workers Gross receipts for self-employed workers Bureau of the Census, Nonemployer Statistics, Zip Code Business Patterns than $113 billion and produced $343 billion in goods and services. Figures on the number of business establishments, the num- ber of people employed, annual wages, and gross domestic product are all used to measure the ocean economy. NOAA's Economics: National Ocean Watch (ENOW) information has been available at the county, state, regional, and national level on an annual basis since 2005 and includes statistics for the six ocean-based sectors that make up the ocean economy: • living resources, • marine construction, • ship and boat building, • marine transportation, • offshore mineral extraction, and • tourism and recreation.