SOUTH KINGSTOWN – The University of Rhode Island is leading a wide-ranging study to document the size and impact of the so-called “blue economy” – the array of businesses, industries and institutions tied to the state’s waters.
In announcing the initiative Monday, URI said the goal is to promote and enhance Rhode Island’s ocean economy as a cohesive business sector.
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It defined the “blue economy” as a broad sector comprising industries such as defense, recreation and tourism, marine construction and transportation, boat and ship building, offshore energy, commercial and recreational fishing, hatcheries and aquaculture, and research and education.
Backed by a grant, the Coastal Resources Center at URI’s Graduate School of Oceanography is spearheading the study. The university’s partners include R.I. Commerce Corp., the state’s economic development agency. The results are expected to be released in the spring.
“Part of the initiative is to figure out what we have, and as we figure that out, we’re also informing people, getting people together, building the network,” said J.P. Walsh, director of the Coastal Resources Center.
“Through that process,” he added, “it highlights the opportunities for growth, integration and collaboration. All those things that will make the economy which we have – which is great – able to grow even further. And grow it right, so it benefits the state.”
The report will build on existing research from various sources. For example, the North Atlantic Oceanic Atmospheric Administration, or NOAA, calculated that Rhode Island’s ocean economy had an economic impact of $2.6 billion, or nearly 5 percent of the state’s total economy, in 2015. That included more than 2,300 companies and more than 42,000 employees.
However, URI officials said they want to take a more comprehensive approach. They said NOAA did not include the state’s ocean-focused defense industry and the burgeoning offshore wind energy industry. In addition, NOAA’s numbers did not include some companies indirectly tied to the ocean economy.
“The initiative’s overall goal is to build a thriving network among Rhode Island’s ocean industries, which promotes innovation and cooperation, and leverages the public-private partnerships URI has built over decades of research, education and collaboration,” said URI President David M. Dooley.
“We have these strong entities within our blue economy, but nobody is really talking to each other,” said Jennifer McCann, director of U.S. coastal programs at URI’s Coastal Resources Center.
“There’s not that synergistic activity happening in the center,” she said. “You have a thriving aquaculture industry and a thriving marine trades industry. The defense industry is practically top in the world. But there’s little interaction between those entities.”
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com
