World Aquaculture Society Meetings

Add To Calendar 21/02/2017 12:15:0021/02/2017 12:35:00America/ChicagoAquaculture America 2017THE ECONOMIC IMPACT OF THE BAITFISH AND SPORTFISH INDUSTRY ON THE STATE OF ARKANSAS. Room 12The World Aquaculture Societyjohnc@was.orgfalseanrl65yqlzh3g1q0dme13067DD/MM/YYYY

THE ECONOMIC IMPACT OF THE BAITFISH AND SPORTFISH INDUSTRY ON THE STATE OF ARKANSAS.

Dr. Jonathan van Senten*, Dr. Carole R. Engle
 
Virginia Tech Seafood AREC
102 S. King St.
Hampton, VA 23669
jvansenten@vt.edu  

An economic impact assessment was performed using IMPLAN ProTM for the baitfish and sportfish industry in the state of Arkansas and three Arkansas counties (Greene, Lonoke, and Prairie) using data collected from a 2015 direct, personal survey. Estimates of the economic impact by output, value added, and employment were obtained for Arkansas producers of baitfish and sportfish within the study areas. The total impact to economic output of the state was estimated to be $71.9 million, with a value added impact of $37.7 million, and an employment impact of 559.  On a national stage, the production and marketing of baitfish in Arkansas results in an estimated total economic output effect of $157.9 million. Total economic impact for the three largest baitfish/sportfish producing counties in Arkansas were: $31.1 million for Lonoke, $11.4 million Prairie, and $8.6 million for Green County. A scenario developed to model the recovery of lost and foregone sales, identified as the largest portion of regulatory costs, demonstrated an increase in total economic output of approximately 8.1% based on increased farm production and marketing expenditures. The Arkansas industries that benefit the most from the production of baitfish and sportfish in Arkansas were those that specifically related to the shipping and transportation of live fish including the automotive/trucking industries and shipping services.                              




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