Aquaculture America 2020

February 9 - 12, 2020

Honolulu, Hawaii

ECONOMIC CONTRIBUTIONS OF FLORIDA'S AQUACULTURE INDUSTRIES

 Robert Botta*, Christa Court, Ed Camp, Frank Asche
School of Natural Resources and Environment
 University of Florida
 Gainesville, FL 32611
 Botta822@ufl.edu
 

Florida's aquaculture industry is extremely diverse, producing approximately 1,500 species or varieties of fish, plants, mollusks, crustaceans, corals, and reptiles for food and non-food markets. This industry is expected to grow  due to a suite of factors, including increased demand for seafood products, and newly established recommendations by the state government to promote improved aquaculture development. Currently, Florida's aquaculture industry is dominated by ornamental fish aquaculture (valued at $34,506,000 in 2017) for non-food use, and molluscan aquaculture (valued at $17,291,000 in 2017) for food use. Activity in the aquaculture industry generates additional economic activity throughout Florida's economy via purchases of input goods and services and the re- spending of employee income. However, the estimation of total economic contributions for aquaculture is quite difficult due to the aggregate nature of economic data. Aquaculture is typically a subsector of a broader industry sector that covers all animal production, except cattle and poultry. Data from the 2017 Census of Agriculture are used to extract aquaculture production from the aggregated animal production sector. Economic contribution analysis is then implemented with IMPLAN© software to estimate the total economic contributions of the  aquaculture industry in Florida, including indirect and induced activity supported in other industry sectors. In doing so, this provides a clearer understanding of the aquaculture industry's role in the state's economy and the broad scope of economic activities supported by the aquaculture industry in Florida.