U.S. Shipyards Support $36 Billion in GDP
The Maritime Administration's new report shows jobs and economic benefits reach every state.
DOT's Maritime Administration released a report June 19 that shows U.S. shipyards support $36 billion in gross domestic product. Acting Maritime Administrator Paul Jaenichen discussed the findings of the report, "The Economic Importance of the U.S. Shipbuilding and Repairing Industry," at the FuturePorts Annual Conference in Long Beach, Calif.
"Shipyards create quality jobs and support economic growth far beyond our nation’s ports and waterways," U.S. Transportation Secretary Ray LaHood said in a MARAD news release. "This report shows that wherever you live across the country, Americans benefit from opportunities generated by the shipbuilding and repair industry."
The report indicates both direct and indirect economic benefits reach all 50 states. There are more than 300 shipyards in the United States that provide more than 107,000 jobs, $7.9 billion in labor income to the national economy, and contribute $9.8 billion in Gross Domestic Product. The average income for these industry jobs is $73,000 -- 45 percent above the national average.
"Our shipyard investments go directly toward an industry that's vital to our economic security and national defense," Jaenichen said.
The report is available here.