A distinguished team of economists familiar with U.S. aquaculture have published an analysis funded by the National Sea Grant Program estimating the economic impact of U.S. aquaculture to the economy. The analysis achieves its goal and presents a succinct description of U.S. aquaculture capturing the complexity in the life stages of aquatic animals and plants farmed and production systems used by small and large farms across the nation.

The total economic contribution of U.S. aquaculture production was estimated to be $4 billion annually with more than 22,000 jobs supported each year. The labor income and value addition were approximately $1 billion and $3 billion, respectively. The economic output multiplier across all U.S. aquaculture production was 1.73. Nearly all (96%) economic sectors in the United States were supported by U.S. aquaculture, with the majority of this contribution occurring in the rural economies where most aquaculture farms are located.

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About the Speaker

Dr. Ganesh Kumar is an Associate Research Professor at Mississippi State University. He had his academic beginnings in Arkansas under the able guidance of Dr. Carole Engle. He has been involved with several aquaculture production and market research for over 19 years. Working from Stoneville, Mississippi, his research focuses primarily on the economic issues surrounding domestic aquaculture. His research is at the intersection of aquaculture production strategies, technology adoption, mathematical programming, economic impact assessment, farm management, econometrics, and risk analysis. 

He is one of those practical economists who bring academic and industry experience together. Ganesh also serves as the Associate Editors for prestigious journals such as the Aquaculture Economics & Management and Journal of World Aquaculture Society. He has several peer-reviewed publications and extension articles concentrating on issues surrounding U.S. aquaculture production and markets. Today he is going to present the collaborative efforts that quantified the economic contribution of US aquaculture farms.

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