While some may look to Maine as leaders in U.S. aquaculture, its economic growth has not been formally assessed in a decade. This study uses data from a sector-driven survey to assess the economic impacts of Maine’s aquaculture sector in 2023. The findings paint a picture of the various species, sizes, and methods of aquaculture occurring in Maine, their impacts, and the related businesses and services that have grown to accompany the sector. Beyond this, the study looks at who is operating the farms, and who has been drawn to come to, or stay in, Maine to work on the farms. In short, it addresses the question: what is aquaculture bringing to Maine and its working waterfronts?
While the study paints a picture of aquaculture as we see it today, it also allows to compare to the previous, 2014-based study, and highlights successes and shortfalls in the Maine aquaculture sector’s growth. Preliminary findings show notable increases in the farm gate value and total economic impacts of the shellfish sector, led by a stratified, yet growing, oyster sector. The survey also reveals projections for Maine’s aquaculture growth over the next ten years, along with the identification of barriers to growth.
This presentation will cover the methodology of the impact assessment, and lessons learned from it, which have led to significant delay in its completion. It will also use Maine as a case study to show where other efforts in Maine have led to notable economic impacts, along with other areas that are lacking.