Page 10: of Marine News Magazine (December 2015)

9 11

BY THE NUMBERS erage of $49,000. The ship building, maintenance, and counting for 20.5 percent of the gross domestic product. repair component of this sector accounted for more than Marine Transportation includes businesses engaged in 85 percent of the employment and gross domestic prod- the traf? c of deep-sea freight, marine passenger services, uct. At the time, the ship and boat building sector grew pipeline transportation, marine transportation services, at a rate of 6.9 percent in gross domestic product from warehousing, and the manufacture of navigation equip- 2011 to 2012 – a signi? cant rebound from its decline of ment. It accounted for 14.5 percent of the employment 7.7 percent in 2011. From there, of course, the industry and 16.7 percent of the gross domestic product in the ramped up only to arrive at the oil-induced dip that we are U.S. Ocean and Great Lakes. While the sector represents currently experiencing. Virginia contributed most to the a smaller percentage of the ocean economy than tourism jobs in this sector, accounting for 23.7 percent of the em- and recreation or offshore mineral extraction, it is an inte- ployment. Washington – where Vigor Industries is con- gral component of the ocean economy, paying one of the centrated – contributed most to values in this sector, ac- highest average wages per employee of $70,000 in 2012.

December 2015

MN 10

MN Dec15 Layout 1-17.indd 10 11/24/2015 10:24:49 AM