News & Events
Assessment of Hawaii’s Aquaculture Industry Performance
Apr 22, 2013
Hawaii’s aquaculture is a fast-growing diversified agricultural sector that has doubled over the past ten years. Today there is much interest in expanding the industry with policy makers viewing it as a potential source for job creation and enhancing state export earnings. However up until now, policy makers and industry participants have known very little about the economic performance and health of the industry. Such information is essential to help guide an effective strategy for growth.
To assess the future outlook of Hawaii’s aquaculture, an industry analysis was conducted. With access to U.S. Census of Agriculture farm-level data for the 1997, 2002, and 2007 cohort years, we evaluated the entire population of Hawaii aquaculture farms. In a thorough study, we analyzed the overall industry and sub-sector economic performance, input cost structure, trends over time, and the relative performance to the U.S. national level. This article summarizes the key findings of this study.
Click here to read the full article (PDF)