Economic Impacts: Virginia

Virginia Maritime Industry Economic Impacts

A new study documents the FY 2013 economic and fiscal impacts of all aspects of transporting, handling, storing, and processing domestically and internationally traded goods through Virginia’s public and private marine terminals, private shipbuilding and repair, and other facets of Virginia’s commercial maritime industry.

Released by the Virginia Maritime Association, the Economic Impacts of Virginia Maritime Industry International & Domestic Commerce finds that the state’s maritime industry accounts for:

$88.4 billion in spending
10.1% of Virginia Gross State Product
530,000 jobs in Virginia
$27.4 billion in wages
$2.7 billion in state/local taxes
79 million tons of cargo moved annually

View the full report.