Economic impact of North Carolina's shellfish mariculture industry : oyster farming has emerged as a key coastal industry

NC STATE UNIVERSITY The Economic Impact of North Carolina's Shellfish Mariculture Industry OYSTER FARMING HAS EMERGED AS A KEY COASTAL INDUSTRY North Carolina's shellfish industry provides over $27 million in economic impact and 532 jobs in the state. Until 2016, this sector's impact was primarily due to the harvest of wild clams and oysters. More recently, wild harvests have declined and cultivated oysters now represent over half of the total economic impact of shellfish in the state. Our estimates suggest farmed oysters contribute over $14 million to state GDP and 271 jobs. Growing inland consumer demand for oysters, especially from restaurants, is increasing the economic impact of the industry across the state. Northern District Farmed Oyster Harvest: $0.55M Wild Oyster Harvest: $0.07M Central District Farmed Oyster Harvest: $1.53M Wild Oyster Harvest: $0.41M Southern District Farmed Oyster Harvest: $0.83M Wild Oyster Harvest: $1.49M North Carolina N.C. Shellfish Landings 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Wild Oysters ■ Wild Clams ■ Farmed Oysters ■ Farmed Clams Farmed Shellfish Economic Impact Harvesting economic impact $6.77M employment 118 Preparation and Processing economic impact $0.84M employment 12 Fish Markets and Retailers economic impact $0.57M employment 11 Seafood Restaurants economic impact $5.89M employment 130 Total economic impact $14.06M employment 271 VALUE ADDED INCOME All impact figures are value-added income for 2019. For the harvesting sector value-added is total sales. At the processing, restaurant, and retail levels, value- added is sales minus the cost of non-labor inputs. Value-added does not include non-North Carolina inputs, and avoids double counting product used several times in the production chain. Economists view value-added as the most accurate measure of economic impact. Methodology and additional details for the estimates included in this factsheet are available by emailing eric.edwards@ncsu.edu. Prepared by Dr. Eric Edwards, N.C. State Department of Agricultural and Resource Economics May 2021