The value of Connecticut’s maritime economy is nearly $7 billion, according to a new report researched and developed by the University of Connecticut at Avery Point. The industry contributes nearly 40,000 jobs to the state, according to “Valuing the Coast: Economic Impacts of Connecticut’s Maritime Industry issued in conjunction with Sea Grant, a national network comprised of 32 Sea Grant programs based at flagship universities in coastal and Great Lake states and Puerto Rico.
Seven sectors classified by the U.S. Department of Commerce (DOC) as directly related to the state’s maritime industry were studied for the report: commercial fishing; seafood product preparation and packaging; ship building and repairing; boat building; transport by water; scenic and sightseeing transportation and support activities for transportation; and amusement and recreational activities.
Lead author was Robert S. Pomeroy, professor in the Department of Agricultural and Resource Economics in UConn’s College of Agriculture and Natural Resources and a Sea Grant college fisheries extension specialist. Pomeroy says the goal of the study was to document the significance of the maritime industry to Connecticut’s economy.
Pomeroy noted that the total impact of the state’s maritime economy is thought to be even higher because this study only looked at seven sectors of the economy. One important area not included is Connecticut’s growing aquaculture industry, which involves farming fish, mollusks, crustaceans, and aquatic plants. The DOC classifies aquaculture as being part of the state’s agricultural industry, so those numbers are not reflected in the findings.
Notably, the research showed that New London County alone accounts for a little less than 50 percent of the total state output impacts. The region consists of 36 towns, including several of the largest cities of the state. Recreational activities are the most important sector for Middlesex County, one of four coastal counties most involved in the maritime industry.
The total economic output impact, measuring the value of the goods or services produced in each of the sectors studied, resulted in a finding of $6.83 billion at the state level, and $5.88 billion for the four coastal counties most involved in the maritime industry. These include the counties of Fairfield, New Haven, Middlesex, and New London.
There's more to the story at http://ctbythenumbers.info/2013/04/28/maritime-industry-brings-7-billion-impact-40000-jobs-to-connec...
