The US domestic maritime industry employs over 37,590 individuals, supports $2.5 billion in worker income, and produces nearly $10 billion for the Pacific Northwest regional economy, according to the findings of a new report conducted by PricewaterhouseCoopers (PwC) on behalf of Transportation Institute (TI).
This was announced on the sidelines of the Seattle Maritime Festival Breakfast, where Washington Senator Maria Cantwell joined business and government leaders from around the region on Friday.
The report showed that the domestic maritime industry in Washington ranks sixth among all American states for jobs and labor income relating to the Jones Act.
It also revealed a 34% growth of domestic maritime jobs created in the State of Washington and found that the maritime industry employs more than 22,500 individuals, produces $6.12 billion for the local economy, and generates more than $1.5 billion in worker income.
The Pacific Northwest is a leader in the domestic maritime industry, supporting nearly 38,000 family-wage jobs and contributing $10 billion to the local economy. The findings in our most recent study demonstrate the strength and necessity of the Jones Act which serves as the backbone of the American maritime industry, the US industrial base, and job creation for the hard working men and women that crew the vessels delivering both in times of war and peace,
…said James L. Henry, Chairman and President of Transportation Institute.
The Jones Act is a nearly 100-year-old federal law requiring goods shipped between US ports to be transported on ships that are built, owned, and operated by US citizens or permanent residents. It is also known as the Merchant Marine Act of 1920.
According to data provided by the American maritime partnership, the Jones Act has enabled the domestic maritime industry to employ nationally 650,000 Americans across all 50 states, create $41 billion in labor income for American workers and add more than $154.8 billion in annual economic output each year.
