Our nation's shipyards are a major economic asset – not only for coastal communities but for the entire nation.
Yesterday, Acting Maritime Administrator Paul ‘Chip’ Jaenichen visited one of the largest shipyards in the U.S., the General Dynamics NASSCO shipyard in San Diego. Employing more than 3,000 men and women, this shipyard is an economic powerhouse in the shore-side city and is a model of the cutting edge ship design, manufacturing, and repair available in America.
Acting Maritime Administrator Paul ‘Chip’ Jaenichen visits one of the largest shipyards in the U.S., the General Dynamics NASSCO shipyard in San Diego.
In fact, according to a study released by MARAD earlier this week, the U.S. shipbuilding and repair industry has an economic impact that ripples throughout the nation.
The report, Economic Importance of the U.S. Shipbuilding and Repairing Industry, indicates that although most shipbuilders are located in coastal areas, the direct and indirect economic benefits of America's shipyards reach all 50 states.
In 2011, the nation’s more than 300 shipyards directly provided more than 107,000 jobs, $7.9 billion in labor income to the national economy and contributed $9.8 billion in Gross Domestic Product (GDP). In addition, the average income for these industry jobs, $73,000, is 45 percent higher than the national average!
On a nationwide basis, including direct, indirect, and induced impacts, the industry supported 402,010 jobs, $23.9 billion of labor income, and $36 billion in GDP.
The NASSCO shipyard
That’s why this Administration has invested more than $150 million in the development of U.S. shipyards through the Small Shipyard Grant program – part of over $1 billion invested in our nation's maritime industry since 2009.
These investments have helped U.S. shipyards continue to build ships on our shores, creating good jobs for the American worker.
The proven economic importance of our nation’s shipyards and across the nation demonstrates President Obama’s approach to infrastructure investment is working. And by investing in our infrastructure now, we’re not only creating jobs; we're also creating a foundation for continued economic growth in the future.
Our nation’s shipyards and the industries they support are helping to reignite the American economy.