Nation’s Shipyards Support $42.4 Billion in Gross Domestic Product | MARAD

WASHINGTON, DC – today, the U.S. Department of Transportation ’ s Maritime Administration ( MARAD ) announced the release of a new report finding that the Nation ’ second private shipyards support $ 42.4 billion in arrant domestic intersection ( GDP ). MARAD ’ s new report— The Economic Importance of the U.S. Private Shipbuilding and Repairing Industry —measures the economic importance of the shipbuilding and repairing industry at the home and State levels for calendar year 2019.

“ Shipyards create thoroughly jobs and support economic growth–not barely in the areas surrounding our ports and waterways, but across the nation, ” said U.S. Transportation Secretary Pete Buttigieg .

In 2019, the nation ’ s 154 private shipyards directly provided more than 107,000 jobs and contributed $ 9.9 billion in labor movement income to the national economy. On a countrywide basis— including aim, indirect, and induced impacts—the industry supported 393,390 jobs, $ 28.1 billion of labor income, and $ 42.4 billion in GDP .

The Biden-Harris Administration recognizes the economic importance of the maritime industry and has proposed $ 17 billion in inland waterways, coastal ports, land ports of entry, and ferries as separate of the American Jobs Plan. These investments would make our infrastructure more bouncy while improving efficiency and creating fresh capacity to enhance freight campaign in the United States .

Since 2008, the U.S. Department of Transportation has provided closely $ 262.5 million in allow financing through its small shipyard grant broadcast to about 300 shipyards in 32 states and territories to improve infrastructure at U.S. shipyards .

“ The report issued by MARAD confirms that shipyards are critical economic engines in addition to being essential components of our industrial floor, ” said Acting Maritime Administrator Lucinda Lessley. “ The skilled jobs created by shipyards are not only essential to supporting our military and our department of commerce, they are contributing to the economic success of communities all over the United States. ”

The report states the U.S. shipbuilding industry has run a trade excess in six out of the last ten years, with a accumulative deal excess of $ 7.3 billion over this period. From 2015 to 2020, U.S. shipbuilders delivered 5,024 vessels of all types including tugs and towboats, passenger vessels, commercial and fishing vessels, and oceangoing and inland barges, reaching 608 vessels in 2020. More than 60 percentage of vessels delivered during the death six years have been inland tank and dry cargo barges .

There are presently 154 secret shipyards in the United States, spread across 29 states and the U.S. Virgin Islands, that are classified as active voice shipbuilders. In addition, there are more than 300 shipyards engaged in transport repairs or able of building ships but not actively engaged in shipbuilding. Although the majority of shipyards are located in the coastal states, active shipyards are besides located on major inland waterways such as the Great Lakes, the Mississippi River, and the Ohio River .

The final report, The Economic Importance of the U.S. Private Shipbuilding and Repairing Industry, can be found at : hypertext transfer protocol : //mindovermetal.org/en/sites/marad.dot.gov/files/2021-06/Economic % 20Contributions % 20of % 20U.S. % 20Shipbuilding % 20and % 20Repairing % 20Industry.pdf

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