Friday, December 27, 2013

Study: Washington Maritime Industry Generates Billions

The Washington State maritime industry generated $30 billion in direct, indirect and induced revenues in 2012 and is responsible for over 148,000 workers being employed, according to a newly released study.

The Washington State Maritime Cluster Economic Impact Study, which was finalized in November, was conducted by Seattle-based research firm Community Attributes, and included interviews with over 35 regional leaders in the maritime sector. It sought to quantify the impact of the maritime industry across Washington State in order to better understand and strengthen its contribution to the regional economy.

The study, commissioned by the Economic Development Council of Seattle and King County and the Workforce Development Council of Seattle-King County with support from the Puget Sound Regional Council, found that maritime wages in general are near or greater than the state median wage of $51,000, averaging $70,800 per year. The maritime industry as a whole paid out nearly $4 billion in wages in 2012, according to the study.

Among the study’s other highlights: fishing and seafood processing accounted for nearly 60 percent of the industry’s revenues, with maritime logistics and shipping accounting for another 25 percent. Also, industry-wide, revenues have grown an average of 6.4 percent per year, with maritime logistics and shipping seeing the highest growth rate at 10.2 percent.

The report also states that the maritime occupations most in demand during the next eight years are expected to be civil engineers; meat and fish cutters and trimmers; sailors and marine oilers; fishermen and related fishing workers; laborers and freight, stock and material movers; and captains, mates and pilots.