The marine economy in the United States remains a strong and crucial sector in 2022, with a significant $476 billion in economic impact and 2.4 million jobs supported, according to the latest Marine Economy Satellite Account (MESA) statistics released by NOAA and the Bureau of Economic Analysis (BEA). This sector accounts for nearly 2% of the nation’s GDP, generating $777 billion in sales, highlighting its essential role in the country’s economy.
Key contributors to GDP included tourism and recreation, national defense and public administration, and offshore minerals. Sectors showing the most growth in sales in 2022 were ship and boat building, coastal tourism and recreation, and marine transportation and warehousing. For the first time, MESA’s report included data on wind energy and alternative power generation, providing insight into the significance of the offshore wind industry to the nation’s economy. Sales from wind farm construction totaled $161 million, with alternative power generation contributing $10 million.
NOAA Chief Economist Monica Grasso, Ph.D., called for investment in restoration and sustainability to ensure a thriving and resilient marine economy that uplifts communities and drives the nation forward. U.S. Secretary of Commerce Gina Raimondo emphasized the importance of a strong and sustainable marine economy in building a more Climate-Ready Nation. The Biden-Harris Administration and the Department of Commerce are committed to enhancing the marine economy to help communities and ecosystems grow and thrive.
In her statement, Raimondo highlighted that supporting a strong marine sector is essential for long-term economic growth beyond just coastal regions. Wind energy is becoming an increasingly important contributor to our nation’s energy mix as we move towards cleaner forms of energy production that can help reduce greenhouse gas emissions. The Biden-Harris Administration is working on several initiatives aimed at promoting offshore wind development while also ensuring that communities benefit from this growing industry through job creation opportunities and other economic benefits.
