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Ship and Boat Building in the United States and Gulf of Mexico Region

Abstract

In this issue, Dr. Posadas compiled and summarized the trends in the number, wages, salaries, and earnings of workers and owners of marinas from 2014 to 2020. The socioeconomic characteristics of workers and owners in 2016 and 2020 were compared. These long-term data on seafood and full-service restaurants illustrate the significance of the industry in the national and Gulf economies. The direct impacts of the global pandemic on marinas are presented in annual percent changes.

Keywords

Marinas; gross regional product; jobs; wages, salaries, and earnings; socioeconomic characteristics; workers and owners

Acknowledgment

This newsletter is a contribution of the Mississippi Agricultural and Forestry Experiment Station and the Mississippi State University Extension Service. This material is based upon work that is supported in part by the National Institute of Food and Agriculture, U.S. Department of Agriculture, Hatch project under accession number 081730 and National Oceanic Atmospheric Administration (Office of Sea Grant, U.S. Dept. of Commerce, under Grant NA10OAR4170078, Mississippi Alabama Sea Grant Consortium).

Gross Regional Product

The NAICS (2021) sector 713930 comprises establishments, commonly known as marinas, engaged in operating docking and/or storage facilities for pleasure craft owners, with or without one or more related activities, such as retailing fuel and marine supplies; and repairing, maintaining, or renting pleasure boats.        

The gross regional product (GRP), also called regional gross domestic product (GDP), is the market value of all goods and services produced within a given area over a specific period and is a good measure of the size, income, and productivity of a regional economy (EMSI, 2021).

The GRP of marinas in the U.S. continued to rise since 2015 reaching $2.9 B in 2020.    In the Gulf of Mexico (GoM) region, the GRP of marinas rose consistently since 2015 reaching more than $700 M in 2020.   

''Figure 1. Gross regional product of U.S. marinas. Source of raw data: EMSI''Figure 2. Gross regional product of GoM region marinas. Source of raw data: EMSI''Figure 3. Gross regional product of Alabama marinas. Source of raw data: EMSI

Since 2015, the GRP of marinas in Alabama continued to rise reaching its peak at $40 M in 2020. The GRP of marinas in Mississippi rose to $7.8 M in 2020. The GRP of marinas in Louisiana started to decline since 2018 until 2020. In 2020, the GRP of the marinas in Louisiana significantly fell by -5.3%.

''Figure 4. Gross regional product of Mississippi marinas. Source of raw data: EMSI''Figure 5. Gross regional product of Louisiana marinas. Source of raw data: EMSI.

Employment And Wages, Salaries, And Earnings

''
Figure 6. U.S. and Gulf of Mexico states marina employees, self-employed, and extended proprietorsSource of raw data: EMSI ''Figure 7. Northern Gulf of Mexico states marina employees, self-employed, and extended proprietorsSource of raw data: EMSI''
Figure 8. U.S. and GoM marina wages, salaries, and earningsSource of raw data: EMSI

Industry Breakdown Of Employees And Owners By Gender

''Table 1. Distribution of U.S. and Gulf of Mexico States marina employees, self-employed, and extended proprietors by gender. Source of raw data: EMSI.

Industry Breakdown Of Employees And Owners By Race Or Ethnicity

The 2020 industrial overview disseminated by EMSI (April 2021) also categorized the workers and owners by race or ethnicity (Table 2).

''Table 2. Distribution of marina employees, self-employed, and extended proprietors by race or ethnicity. Source of raw data: EMSI.

Industry Breakdown Of Employees And Owners By Age

The 2020 industrial overview published by EMSI (April 2021) also classified the workers and owners by age (Table 3).

''Table 3. Distribution of marina employees, self-employed, and extended proprietors by age group. Source of raw data: EMSI.

Summary

My Economics Outreach On Marinas

Suggested Citation