New Study Values Economic Impact of U.S. Aquaculture Farms at $4 Billion
According to a paper published in the Journal of the World Aquaculture Society (JWAS), aquaculture farms in the U.S. contribute nearly $4 billion to the nation’s economy. The study is the first evaluation of the national economic impact of U.S. aquaculture in nearly three decades, according to the paper.
A Mississippi-Alabama Sea Grant-funded team, led by researchers at Mississippi State University and including Virginia Sea Grant Extension at the Virginia Tech Seafood and Agricultural Research and Extension Center, authored the study using comprehensive farm-level survey data and supplemental information from publications on remaining U.S. aquaculture sectors.
“The study is very important from a national aquaculture policy point of view, elaborating the capabilities and contribution of U.S. aquaculture,” said Ganesh Kumar, PhD, the study’s Principal Investigator and an Associate Research Professor at Mississippi State University. “(It) will lay a platform for future impact estimations such as impact assessment of major aquaculture species at national and regional levels.”
The study, which received an Editor’s Choice Award from JWAS, also concluded that U.S. aquaculture production supports more than 22,000 jobs in rural and coastal communities, provides $193 million in tax benefits, and indirectly benefits 96% of all other economic sectors. For every dollar spent by aquaculture farms, $0.73 is generated for the economy.
“The study is very important from a national aquaculture policy point of view, elaborating the capabilities and contribution of U.S. aquaculture,” said Ganesh Kumar, PhD, the study’s Principal Investigator and an Associate Research Professor at Mississippi State University
U.S. aquaculture production supports more than 22,000 jobs in rural and coastal communities.
“This project is an example of what can be achieved when a team of researchers and Extension specialists work collaboratively with industry stakeholders,” said Jonathan van Senten, PhD, Associate Director of the Virginia Seafood Agriculture Research and Extension Center. “The findings produced by this project would not have been possible without the preceding work over multiple years that cemented these partnerships and collaborations.”
The study involved 15 scientists from across the country representing more than 10 institutions, including Alaska Sea Grant, Maryland Sea Grant and Illinois-Indiana Sea Grant. Farm-level surveys captured 77 percent of the value of U.S. aquaculture, and the remainder of the information came from publications on the remaining aquaculture sectors.
It also concluded that less regulatory complexity and more regulatory efficiency could substantially increase the economic impact of existing aquaculture farms. The study estimates that the total economic impact of U.S. Aquaculture production is likely three to four times larger than the farm-level impacts.
Story by Lathan Goumas | Virginia Sea Grant
Photos by Aileen Devlin | Virginia Sea Grant
Published January 31, 2025.
