Economic Impacts of the Mississippi Seafood Industry

Economic Sectors

  1. The commercial harvesting sector corresponds to economic sectors 114111 or “finfish fishing” and 114112 or “shellfish fishing” in the North American Industrial Classification System. 

  2. The seafood processing sector primarily corresponds to code 311711 or “seafood canning” and code 311712 or “fresh and frozen seafood processing” in the North American Industrial Classification System. 

  3. The seafood wholesaling sector corresponds to NAICS codes 424460 or “fish and seafood merchant wholesalers” in the North American Industrial Classification System.

  4. Seafood retailing consists of fish and seafood markets and seafood restaurants

    • The fish and seafood markets sector corresponds to NAICS code 445220 or “fish and seafood markets” in the North American Industrial Classification System.

    • The eating and drinking places sector includes “full-service restaurants” andlimited-service restaurants”in the North American Industrial Classification System.

Economic Impacts

The NOAA Fisheries Economic Model generates estimates for four types of impacts - employment, income, total value added, and output. The income, total value added, and output impacts are expressed in dollars for the year specified by the user. Employment impacts are expressed in terms of a mix of both full-time and part-time jobs.

The total economic impact is the sum of direct, indirect and induced impacts. Indirect impacts result from changes in economic activity of other industrial sectors which supply goods or services to the sector being evaluated. Induced impacts are the result of personal consumption expenditures by industry employees.

The economic impacts of the Mississippi seafood industry since 2006 are shown in the figure below. The entire Mississippi seafood industry generated $377.374 million total economic impacts in 2012. This amount represents about 0.3 percent of the total economic impacts of the seafood industry in the entire U.S.A. In addition, more than 8,500 jobs were created by the entire seafood industry in the same year. Observe the cyclical pattern of the levels of impacts resulting from Hurricane Katrina in 2005 and Deepwater Horizon oil spill in 2010.


Sectoral Economic Impacts of Seafood Industry

  1. Commercial fishing

  2. Seafood processing

  3. Seafood wholesaling

  4. Seafood importing

  5. Fish and seafood markets

  6. Seafood restaurants

Economic Impacts by Major Species

  1. Shrimp

  2. Oyster

  3. Crab

  4. Finfish

Links to the Economic Impacts in the U.S. and other states

  1. USA

  2. Alabama

  3. Mississippi