The U.S. shipbuilding and restore trade supported greater than 110,000 jobs and contributed $37.3 billion in general annual gross home product to the U.S. financial system within the yr 2013, in keeping with new information launched as we speak by the U.S. Department of Transportation’s Maritime Administration (MARAD).

The new figures present that the home shipbuilding trade is rising. MARAD’s final research, exhibiting figures from 2011, confirmed that U.S. shipyards supported 107,000 jobs and instantly and not directly contributed $36 billion in gross home product.

In 2013, there have been 124 energetic shipbuilders within the United States, unfold throughout 26 states. In addition, there have been greater than 200 shipyards engaged in ship repairs or able to constructing ships however not actively engaged in shipbuilding, in keeping with MARAD. The majority of shipyards are situated within the coastal states, however there are also energetic shipyards on main inland waterways such because the Great Lakes, the Mississippi River, and the Ohio River, the MARAD information confirmed.

According to MARAD, in 2013, the U.S. personal shipbuilding and repairing trade instantly supplied 110,390 jobs, $9.2 billion in labor earnings, and $10.7 billion in GDP. Including direct, oblique, and induced impacts, on a nationwide foundation, complete financial exercise related to the trade reached 399,420 jobs, $25.1 billion of labor earnings, and $37.3 billion in GDP in 2013, the MARD information confirmed.

The states with the best ranges of general direct, oblique, and induced employment related to the trade are Virginia, California, Mississippi, Louisiana, and Texas, MARAD mentioned.

The date additionally confirmed that the federal authorities, together with the U.S. Navy, U.S. Army, and U.S. Coast Guard, is a vital supply of demand for U.S. shipbuilders. While only one % of the vessels delivered in 2014 (11 of 1,067) had been delivered to U.S. authorities businesses, 10 of the 12 massive deep-draft vessels delivered had been delivered to the U.S. authorities: 5 to the U.S. Navy, 4 to the U.S. Coast Guard, and one to the National Science Foundation, in keeping with MARAD.

“The MARAD study showcases the important role the U.S. shipbuilding and repair industry plays in both commercial and military sectors, while also highlighting the critical support the shipyard industrial base provides to the nation’s economic and national security,” mentioned Tom Godfrey, Chairman of the Shipbuilders Council of America and CEO of Colonna’s Shipyard in Norfolk, Va. “As an industry, we are extremely proud to support these good paying American jobs that are filled by some of the most highly skilled, world-class craftsman from coast to coast. It is these craftsman who have served as a hallmark of our innovative industry since its inception and will continue to be as our industry grows and flourishes in the future.”

See Full Report Here: The Economic Importance of the U.S. Shipbuilding and Repairing Industry

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