Report: Boating industry creates jobs in the Ocean State
THE RECREATIONAL BOATING industry helped create 2,866 jobs in the Ocean State, according to a new report titled "Economic Significance of Recreational Boating in Rhode Island," from the National Marine Manufactures Association.
COURTESY THE NATIONAL MARINE MANUFACTURERS ASSOCIATION
WASHINGTON – The economic impact of the recreational boating industry in Rhode Island totals $508.3 million, according to a report from the National Marine Manufacturers Association.
NMMA provided a state-by-state breakdown of its national report, which found the value of boating to be $121 billion nationwide.
Across the United States, recreational boating generates more than 338,000 jobs and boating-related businesses number 35,000.
The Ocean State itself is home to 323 boating industry businesses, and benefits from the generation of 2,866 jobs, according to the NMMA report.
Boat services comprises a significant fraction of boat businesses and jobs in the state. Just under three quarters of boating businesses in Rhode Island are boat services industries and 1,623, or 57 percent, of jobs created by recreational boating also are in boat services.
Boat building constituted only 8 percent of businesses, however it tallied in at 20 percent of the jobs created by boating this year.
The NMMA reported that an estimated 4,186 total jobs either directly or indirectly result from recreational boat-related spending in the Ocean State.
Rhode Island is home to 35,033 boats as registered with the U.S. Coast Guard. Of those vessels registered, 80 percent are motor boats, while sailboats tally only 10 percent, or 3,543.
Annual spending on recreational boating in Rhode Island comes in at $210.8 million, according to the report, and sales total $600 million for retail and services and just under $200 million for manufacturing sales.