April 5, 2017 — Settled four centuries ago by seafaring pilgrims, Massachusetts continues to draw sustenance from the water as more than 90,000 people are employed in its maritime economy, according to a new report.
The Bay State’s maritime economy accounts for $6.4 billion, or 1.3 percent, of its gross state product, and it has outpaced other industries, according to a report commissioned by the Seaport Economic Council.
Fishing, marine transportation and tourism are some of the fields that make up the sector, according to the report produced by the UMass Public Policy Center’s Massachusetts Maritime Economy Study. The study highlighted offshore wind and aquaculture as “two opportunities” for the marine economy. In 2013, Massachusetts had an estimated 145 aquaculture operations generating $18 million in revenue, and while no offshore wind has yet been installed off the coast of Massachusetts, it has “the largest offshore wind potential of any U.S. state,” according to the report.
The report will inform the council in its work to promote job growth on the coast and prepare for sea-level rise. The council anticipates awarding about $8 million in grants over the next year and a half, according to the Baker administration.
“This council is focused on the economics of our coastline and the waters that exist here and leveraging those natural assets and those infrastructure assets for more jobs and more economic development,” said Lt. Gov. Karyn Polito, who chairs the council and said it has given out about $20 million in grants. “My hope is that we continue to protect and preserve our resources and at the same time build a talent pool that can really fuel these emerging industries and promote what we have here in our Commonwealth.”