Proceedings Of The Marine

SUM 2016

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.

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Page 17 of 78

15 Summer 2016 Proceedings The living resources sector includes commercial fishing, aquaculture, fish processing, and seafood marketing. Employing just under 62,000 people, this sector also pro- vides jobs for another 56,000 self-employed workers—the largest number of any of the ocean sectors. Like tourism and recreation, this sector is highly seasonal. Although it constitutes only 2 percent of the ocean economy — whether measured in terms of employment, wages, or gross domestic product — it is important to remember that it accounts for all of the seafood produced in the United States. Marine construction and ship and boat building are relatively small sectors, but pay high wages per employee — an aver- age of $60,000 per year. Marine transporta- tion accounts for 14 percent of the employ- ment and 26 percent of the ocean economy wages, as annual wages per employee also tend to be high in this sector. The offshore mineral extraction sector, dom- inated by the oil and gas industry, accounts for almost half the gross domestic product in the U.S. ocean economy. Employment in this capital-intensive industry accounts for only 5.5 percent of the ocean economy total. However, this sector accounts for 20 per- cent of total ocean economy wages, with employees making an average of $143,000 per year. At the national level, employment in the ocean economy is dominated by the tour- ism and recreation sector (71 percent). Wages per employee average about $22,000 annually. This is partially because the sec- tor includes a number of seasonal and part- time jobs, like those at beachfront hotels and restaurants. The importance of each sector varies greatly from place to place. The living resources sector is concentrated in Alaska, the Gulf of Mexico, and the Northeast. Offshore mineral extraction is concentrated in the Gulf of Mexico and is almost completely absent on the Atlantic coast and in the Great Lakes. 2 Tourism and recreation has a significant pres- ence in all U.S. regions. Because of its importance to the national economy, NOAA and the Bureau of Economic Analysis are working together to continue improving our understanding of the ocean economy. The two agencies are working to create the Ocean Economy Satellite Account to quantify more fully the relationship between the ocean economy and the national economy as a whole. Links between the Ocean and Inland Economies California provides several examples of links between the ocean and national economies. A 2015 study focused on California shows that its ocean economy, valued at $44.8 bil- lion, was the largest among U.S. states, according to data from 2012. That state alone accounted for 13 percent of the business establishments, 17 percent of the employment and wages, and 12 percent of the national ocean economy. Three sectors — tourism and recreation, marine transportation, and offshore mineral extraction — accounted for most of California's ocean economy GDP. The tourism and recreation sector in California boosts the U.S. economy, attracting national and international visitors. In 2014, approximately 23.2 million people visited California from other parts of the United States, and 4.6 million out of a total of 30 million overseas visitors to the U.S. listed Cali- fornia as their primary destination. These visitors buy food and souvenirs, pay entrance fees to parks and attractions, and stay in hotels. California's hotel industry links the ocean and inland economies through procurement contracts with Graphic courtesy of NOAA.

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