Economic contribution of U.S. aquaculture farms

Authors: KUMAR, GANESH - Mississippi State University; HEGDE, SHRADDHA - Texas A&M University; VAN SENTEN, JONATHAN - Virginia Polytechnic Institution & State University; ENGLE, CAROLE - Virginia Polytechnic Institution & State University; Aarattuthodi, Suja; PARKER, MATT - University Of Maryland; QUAGRAINIE, KWAMENA - Purdue University; BOLDT, NOAH - Virginia Polytechnic Institution & State University; POSADAS, BEN - Mississippi State University; ASCHE, FRANK - University Of Florida; DEY, MADAN - Texas State University; ROY, LUKE - Auburn University; GRICE, RUSSELL - Auburn University; FONG, QUENTIN - University Of Alaska; SCHWARZ, MICHAEL - Virginia Tech

Submitted to: Journal of the World Aquaculture Society
Publication Type: Peer Reviewed Journal
Publication Acceptance Date: 7/2/2024
Publication Date: N/A
Citation: N/A

Interpretive Summary: Economic contribution analysis provided an understanding of the linkages of aquaculture farming businesses with other economic sectors. Comprehensive data from farm-level surveys in addition to information from several aquaculture sectors were used in the analysis. Study results showed that 96% of the economic sectors were supported to some degree by U.S. aquaculture farms. Foodfish farms generated the greatest contributions. Study also identified constraints to the growth of aquaculture such as regulatory barriers. Additional research to measure impacts of U.S. aquaculture products in the processing, distribution, food service, supermarket, and restaurant levels of the marketing chain is needed to fully capture the total economic contributions and from U.S. aquaculture.

Technical Abstract: The study connects aquaculture farming businesses with other economic sectors and shows how policy decisions affecting aquaculture result in economic ripples throughout local, regional, and national economies. Previously existing national estimates of the economic contributions of U.S. aquaculture are nearly 30 years old making this study imperative. The study utilized comprehensive data from detailed farm-level surveys that captured 77% of the total value of U.S. aquaculture and supplemented by information from publications on the remaining aquaculture sectors. Reults showed that U.S. aquaculture farms contributed $4 billion annually and supported more than 22,000 jobs each year. Labor income and value-added contributions were $1 billion and $3 billion, respectively. Analysis of the linkages of U.S. aquaculture production activities with other economic sectors showed that nearly all (96%) economic sectors were supported to some degree by U.S. aquaculture farms. Constraints to growth of aquaculture include regulatory barriers that have restricted existing sectors from meeting current demand for their products.