Economic Impacts of Charter Boats for Hire in Coastal Mississippi and Alabama

Sector Definition

  • The charter boats for-hire are included in the NAICS code 487210 or “Scenic and Sightseeing Transportation, Water” in the North American Industrial Classification System (NAICS, 2011).  
  • This industry comprises establishments primarily engaged in providing scenic and sightseeing transportation on water. 
  • The services provided are usually local and involve a same-day return to the place of origin. 

Gross Regional Product in the Five Coastal Counties of Mississippi and Alabama 

  • The gross regional product (GRP), also called regional gross domestic product (GDP), is the market value of all goods and services produced within a given area over a specific period of time and is a good measure of the size, income, and productivity of a regional economy (EMSI, 2021).
  • The GRP of the five coastal counties is shown in the chart below.
  • Significant expansions in GRP are observed during the start of the pandemic. 

Source of raw data: EMSI (2021). 

Direct Employment Impacts in the Five Coastal Counties of Mississippi and Alabama 

  • The number of workers and owners of these establishments is shown in the chart below.
  • Significant increases in the number of jobs are observed during the pandemic.
  • On the other hand, wages, salaries, and earnings (WSE) fell slightly during the pandemic. 

Source of raw data: EMSI (2021). 

Economic Impacts of MASGC Research, Education, and Outreach Programs in the Five Coastal Counties of Mississippi and Alabama

  • Many research, education, and outreach programs of the Mississippi-Alabama Sea Grant Consortium (MASGC) targeted charter boats for-hire and associated businesses in the region.
  • The chart below shows the estimated economic impacts of these programs during the past seven years.
  • It was assumed that MASGC programs supported only one percent of workers and owners targeted charter boats for-hire and associated businesses.
  • Annual economic impacts of MASGC programs were computed by multiplying the number of supported jobs by annual WSE. 
  • As the number of jobs expanded during the pandemic, the economic impacts of the MASGC programs also went up significantly.