U.S. Ocean Enterprise Generates USD7 Billion Annually

U.S. Ocean Enterprise Generates USD7 Billion Annually

The U.S. Integrated Ocean Observing System (IOOS), part of the National Oceanic and Atmospheric Administration (NOAA) and the Department of Commerce, has released a first-of-its-kind study that looks at the economic impact of ocean observing systems. The study identified more than 400 U.S. companies that contribute to ocean observations, measurements and forecasting - known as the 'ocean enterprise'. According to the study, the U.S. ocean enterprise generates USD7 billion in revenue annually, and 54% of companies 5 years or older expect the ocean enterprise segment of their business to grow in the next year.

The report The Ocean Enterprise is available online.

In the foreword, Zdenka Willis, Director of the U.S. IOOS Program, wrote, "As a part of the wider 'BlueTech' industry, the Ocean Enterprise is set to be a growing sector, delivering increasing benefits to the U.S. economy and U.S. employment."

Dr. Richard Spinrad, NOAA Chief Scientist, wrote, "This report is a first map of a key component of the new dynamic Blue Economy and it points us to the future of environmental intelligence as an exciting growth industry. The forecast is good."

Michael Jones, President of The Maritime Alliance, added, "As we extrapolate from this 'ocean observation' focused study we can begin to understand the current and future importance of the oceans for the U.S and the need - and the opportunity - for the U.S. to be a leader in developing sustainable, science-based ocean industries globally."