Monthly Shrimp Ex-vessel Prices in the Gulf of Mexico States, Jan. 2013 – May 2017

Ex-vessel price, dollars per pound, Penaeid species only, headless, in dollars per pound, headless, by count per pound. Source: National Marine Fisheries Service, GOM Data Management, St. Petersburg, Florida. 

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Economic Contributions of Southern Flounder Commercial Fishing

Economic impact analysis shows the economic contribution an industry makes locally, region-wide, nation-wide, or globally. This economic information is crucial in making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States were used to estimate the economic contribution of white shrimp commercial fishing to the Gulf of Mexico regional economy in 2015. The economic impact analysis used sector 17 or commercial fishing of the 2013 IMPLAN input-output data.

Flounder-Southern-Gulf-economic-contribution
Figure 1. Total economic impact includes direct, indirect and induced effects estimated by using 2015 annual landing values and 2013 IMPLAN data. The local purchases percentage was set to 100%. The number of jobs is rounded off.

The IMPLAN economic model generates economic impact estimates regarding output or sales, employment or jobs, labor income, value added and tax revenues. The income, value-added, and output impacts are expressed in dollars for the year specified by the user. Output or sales are the gross sales by businesses within the economic region affected by an activity. Labor income includes personal income including wages and salaries and proprietors’ income or income from self-employment. Employment impacts are expressed in terms of a mix of both full-time and part-time jobs. Value-added is the contribution made to the value of seafood products at each stage of harvesting, processing, and distribution. The total economic impact is the sum of direct, indirect and induced impacts. The direct effects express the economic impacts in the sector in which the expenditure was initially made. Indirect effects result from changes in the economic activity of other industrial sectors which supply goods or services to the commercial fishing industry. Induced effects are the product of personal consumption expenditures by industry employees.

The annual commercial dockside values of Southern flounder in the Gulf of Mexico Region in 2015 reached $0.6 million, which is about twice the average annual dockside values during the last five years. The total economic contribution of commercial southern flounder fishing in 2015 amounted to $1.2 million (Figure 1). The Southern flounder commercial fishing created 17 jobs and generated labor income amounting to $0.4 million in the Gulf regional economy. The Southern flounder commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. About $71,000 were estimated to have been paid by households and businesses in 2015 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were expected to have collected taxes from households and businesses in 2015 amounting to $35,000 as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.

Commercial shrimp landings in Mississippi and the Gulf of Mexico Region in the month of May

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Source of raw data: NOAA Fisheries.

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Economic Contribution of Gulf Menhaden Commercial Fishing

Economic impact analysis shows the contributions an industry makes locally, region-wide, or nation-wide. This information is necessary for making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The Gulf of Mexico regional economic model was developed using the IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States. The sector employed in the analysis was number 17 or commercial fishing of the 2013 IMPLAN input-output data. Due to the lack of reliable data, the contributions of menhaden processing, wholesaling, and retailing to the Gulf States economy were not included in the present analysis.

The total commercial landing values in the Gulf of Mexico States in 2015 significantly increased to $138.51 million, which is more than twice the average annual landing value. The total economic contribution of menhaden fishing in 2015 reached $262.8 million (Figure 1). Commercial menhaden fishing created 3,768 jobs and generated labor income amounting to $93.8 million in the Gulf regional economy.

Menhaden-Gulf-economic-contributionFigure 1. Total economic impact includes direct, indirect and induced effects estimated by using 2015 annual landing values and 2013 IMPLAN data. The local purchases percentage was set to 100%. The number of jobs is rounded off.

The menhaden commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. A total of $16 million were estimated to have been paid by households and businesses in 2015 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were expected to have collected taxes from households and businesses in 2015 amounting to $7.8 million as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.

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Economic Contribution of Commercial Catfish Production

Economic impact analysis shows the economic contribution an industry makes locally, region-wide, nation-wide, or globally. This economic information is crucial in making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The IMPLAN (http://implan.com/) software and the 2012 input-output data for the United States were used to estimate the economic contribution of commercial catfish production in the United States economy in 2016. The economic impact analysis used sector 14 or ‘animal production, except cattle and poultry and egg” of the 2012 IMPLAN input-output data. Due to the lack of reliable data, the contributions of catfish processing, wholesaling, and retailing to the United States economy are not included in the present analysis.

The annual commercial production catfish sales in the United States in 2016 reached $386 million, which is 7.2% higher than the average annual sales during the last five years. The total economic contribution of commercial catfish production in the United States in 2016 amounted to $871.1 million (Figure 1). Commercial catfish production created 8,004 jobs and generated labor income amounting to $211 million in the United States economy.
Catfish-production-USA-economic-contribution
Figure 1. Total economic impact includes direct, indirect and induced effects estimated by using the 2016 annual catfish sales and 2012 IMPLAN data. The local purchases percentage was set to 100%. The number of jobs is rounded off.

Commercial catfish production generates annual tax revenues for the producing states and the U.S. federal government. A total of $50.4 million were estimated to have been paid by households and businesses in 2016 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The producing states were expected to have collected taxes from households and businesses in 2016 amounting to $16 million as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.

Economic Contribution of White Shrimp Commercial Fishing in the Gulf of Mexico Region

Economic impact analysis shows the economic contribution an industry makes locally, region-wide, nation-wide, or globally. This economic information is crucial in making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States were used to estimate the economic contribution of white shrimp commercial fishing to the Gulf of Mexico regional economy in 2015. The economic impact analysis used sector 17 or commercial fishing of the 2013 IMPLAN input-output data.

The annual commercial landing values of wild American white shrimp in the Gulf of Mexico Region in 2015 reached $153.7 million, which is about 75.3% of the average annual landing values during the last five years. The total economic contribution of commercial shrimping in 2015 amounted to $291.7 million. Commercial shrimping created 4,114 jobs and generated labor income amounting to $104.1 million in the Gulf regional economy.

White-Shrimp-Gulf-economic-contribution

The white shrimp commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. A total of $17.8 million were estimated to have been paid by households and businesses in 2015 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were expected to have collected taxes from households and businesses in 2015 amounting to $8.7 million as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.

EMPLOYMENT IMPACTS OF SEAFOOD RETAILING IN MISSISSIPPI, THE GULF OF MEXICO STATES, AND THE UNITED STATES

The seafood-retailing sector corresponds to the “fish and seafood markets” and “restaurant establishments” serving seafood products.

The North American Industrial Classification System (NAICS, 2011) code 445220 or “fish and seafood markets” comprises establishments primarily engaged in retailing fresh, frozen, or cured fish and seafood products.

The eating and drinking places sector includes “full-service restaurants” and limited-service restaurants” in the North American Industrial Classification System (NAICS, 2011).

NAICS code 722110 or “full-service restaurants” industry comprises establishments primarily engaged in providing food services to patrons who order and are served while seated (i.e., waiter/waitress services) and pay after eating.

NAICS code 722211 or “limited-service restaurants” industry comprises establishments primarily engaged in providing food services (except snack and nonalcoholic beverage bars) where patrons generally order or select items and pay before eating.

Employment or job impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. The total jobs impacts of the fish and seafood markets in the Gulf of Mexico states and the entire USA are shown below:

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Employment Impacts of Mississippi, Gulf of Mexico, and United States marine recreational fishing

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Economic impacts from recreational fishing activities include impacts from fishing trips and expenditures on fishing-related durable equipment. The three fishing modes include charter boats-for-hire, private boats, and shore fishing. NOAA Fisheries started reporting the economic contributions of marine recreational fishing since 2006. Employment or job impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. The total job impacts of the entire marine recreational fishing industry in the Gulf of Mexico states and the entire USA are shown above.

EMPLOYMENT IMPACTS OF MISSISSIPPI, GULF OF MEXICO, AND UNITED STATES SEAFOOD PROCESSING

The seafood processing sector primarily corresponds to code 311711 or “seafood canning” and code 311712 or “fresh and frozen seafood processing” in the North American Industrial Classification System (NAICS, 2011). The seafood canning industry comprises establishments primarily engaged in (1) canning seafood (including soup) and marine fats and oils and/or (2) smoking, salting, and drying seafood. Establishments known as “floating factory ships” that are engaged in the gathering and processing of seafood into canned seafood products are included in this industry. The fresh and frozen seafood processing industry comprises establishments primarily engaged in one or more of the following: (1) eviscerating fresh fish by removing heads, fins, scales, bones, and entrails; (2) shucking and packing fresh shellfish; (3) manufacturing frozen seafood; and (4) processing fresh and frozen marine fats and oils.

Employment or job impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. NOAA Fisheries started reporting the economic contributions of the seafood industry since 2006. The total job impacts of seafood processing in the Gulf of Mexico states and the entire USA are shown below:

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EMPLOYMENT IMPACTS OF MISSISSIPPI, GULF OF MEXICO, AND UNITED STATES SEAFOOD WHOLESALING

The seafood wholesaling sector corresponds to NAICS codes 424460 or “fish and seafood merchant wholesalers” in the North American Industrial Classification System (NAICS, 2011). The fish and seafood merchant wholesalers industry comprises establishments primarily engaged in the merchant wholesale distribution of fish and seafood (except canned or packaged frozen).

Employment or job impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. The total jobs impacts of commercial in the Gulf of Mexico states and the entire USA are shown below:

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EMPLOYMENT IMPACTS OF MISSISSIPPI, GULF OF MEXICO, AND UNITED STATES COMMERCIAL FISHING

Commercial Fishing corresponds to economic sectors 114111 (Finfish Fishing) and 114112 (Shellfish Fishing) in the North American Industrial Classification System (NAICS). Finfish Fishing comprises establishments primarily engaged in the commercial catching or taking of finfish (e.g., bluefish, salmon, trout, tuna) from their natural habitat. Shellfish Fishing comprises establishments primarily engaged in the commercial catching or taking of shellfish (e.g., clams, crabs, lobsters, mussels, oysters, sea urchins, shrimp) from their natural habitat.

Employment or job impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. NOAA Fisheries started reporting the economic contributions of the seafood industry since 2006. The total jobs impacts of commercial in the Gulf of Mexico states and the entire USA are shown below:

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EMPLOYMENT IMPACTS OF THE ENTIRE SEAFOOD INDUSTRY IN MISSISSIPPI, THE GULF OF MEXICO STATES AND THE UNITED STATES

The seafood industry consists of the commercial harvesting, processing, wholesaling, and retailing of seafood products. NOAA Fisheries started reporting the economic contributions of the seafood industry since 2006. Employment or jobs impacts are expressed in terms of a mix of both full-time and part-time jobs. The total economic impact is the sum of direct, indirect and induced impacts. The total jobs impacts of the entire seafood industry in the Gulf of Mexico states and the entire USA are shown below:

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Source of raw data: NOAA Fisheries (2014).

Economic contributions of the entire seafood industry in Mississippi, the Gulf of Mexico States and the United States

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Output or sales are the gross sales by businesses within the economic region affected by an activity. The total economic contribution or impact is the sum of direct, indirect and induced impacts. The seafood industry consists of the commercial harvesting, processing, wholesaling, and retailing of seafood products. NOAA Fisheries started reporting the economic contributions of the seafood industry since 2006. The total sales impacts of the seafood industry are shown below.

Sales Impacts of Mississippi, Gulf of Mexico and United States marine recreational fishing

Economic impacts from recreational fishing activities include impacts from fishing trips and expenditures on fishing-related durable equipment. The three fishing modes include charter boats for-hire, private boats, and shore fishing. Output or sales is the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of the entire marine recreational fishing industry (NOAA Fisheries) in the Gulf of Mexico states and the entire USA are shown below:

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SALES IMPACTS OF SEAFOOD RETAILING IN MISSISSIPPI, GULF OF MEXICO AND UNITED STATES, 2006-2015

The seafood-retailing sector corresponds to the “fish and seafood markets” and “restaurant establishments” serving seafood products.

The North American Industrial Classification System (NAICS, 2011) code 445220 or “fish and seafood markets” comprises establishments primarily engaged in retailing fresh, frozen, or cured fish and seafood products.

The eating and drinking places sector includes “full-service restaurants” and limited-service restaurants” in the North American Industrial Classification System (NAICS, 2011). NAICS code 722110 or “full-service restaurants” industry comprises establishments primarily engaged in providing food services to patrons who order and are served while seated (i.e., waiter/waitress services) and pay after eating. NAICS code 722211 or “limited-service restaurants” industry comprises establishments primarily engaged in providing food services (except snack and nonalcoholic beverage bars) where patrons generally order or select items and pay before eating.

Output or sales are the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of seafood retaining (NOAA Fisheries) in the Gulf of Mexico states and the entire USA are shown below:

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SALES IMPACTS OF SEAFOOD IMPORTING IN MISSISSIPPI, GULF OF MEXICO AND UNITED STATES, 2006-2015

Output or sales is the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of seafood importing (NOAA Fisheries) in the Gulf of Mexico states and the entire USA are shown below:

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SALES IMPACTS OF seafood wholesaling IN MISSISSIPPI, GULF OF MEXICO AND UNITED STATES, 2006-2015

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Source of data: NOAA Fisheries.
The seafood wholesaling sector corresponds to NAICS codes 424460 or “fish and seafood merchant wholesalers” in the North American Industrial Classification System (NAICS, 2011). The fish and seafood merchant wholesalers industry comprises establishments primarily engaged in the merchant wholesale distribution of fish and seafood (except canned or packaged frozen).

Output or sales are the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of seafood wholesaling in the Gulf of Mexico states and the entire USA are shown above.

Sales impacts of seafood processing in Mississippi, Gulf of Mexico and United States, 2006-2015

The seafood processing sector primarily corresponds to code 311711 or “seafood canning” and code 311712 or “fresh and frozen seafood processing” in the North American Industrial Classification System (NAICS, 2011). The seafood canning industry comprises of establishments primarily engaged in (1) canning seafood (including soup) and marine fats and oils and/or (2) smoking, salting, and drying seafood. Establishments known as “floating factory ships” that are engaged in the gathering and processing of seafood into canned seafood products are included in this industry. The fresh and frozen seafood processing industry comprises of establishments primarily engaged in one or more of the following: (1) eviscerating fresh fish by removing heads, fins, scales, bones, and entrails; (2) shucking and packing fresh shellfish; (3) manufacturing frozen seafood; and (4) processing fresh and frozen marine fats and oils.

Output or sales is the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of seafood processing in the Gulf of Mexico states and the entire USA are shown below:

Source of raw data: NOAA Fisheries.

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Sales Impacts of Commercial Fishing in Mississippi, Gulf of Mexico and United States, 2006-2015

Commercial Fishing corresponds to economic sectors 114111 (Finfish Fishing) and 114112 (Shellfish Fishing) in the North American Industrial Classification System (NAICS). Finfish Fishing comprises establishments primarily engaged in the commercial catching or taking of finfish (e.g., bluefish, salmon, trout, tuna) from their natural habitat. Shellfish Fishing comprises establishments primarily engaged in the commercial catching or taking of shellfish (e.g., clams, crabs, lobsters, mussels, oysters, sea urchins, shrimp) from their natural habitat.

Output or sales is the gross sales by businesses within the economic region affected by an activity. The total economic impact is the sum of direct, indirect and induced impacts. The total sales impacts of commercial fishing in the Gulf of Mexico states and the entire USA are shown below:

Source of raw data: NOAA Fisheries.

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MARINE RECREATIONAL FISHING IN MISSISSIPPI ALSO EXPANDED IN 2015

The total economic contribution of the entire Mississippi marine recreational fishing industry increased to $656.407 million in 2015. The entire industry provided jobs to 5,511 workers and generated $217.633 million labor income.
FEUS 2015-Mississippi-Recreational-Fishing-Impacts