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Economic Study Finds NRAC Funding Grows the Northeast Aquaculture Industry

Aug 11, 2017

From 2005 to 2014, the Northeast Regional Aquaculture Center (NRAC) invested $4.1 million in 32 aquaculture research and extension projects. A multi-disciplinary team of researchers from the University of New Hampshire conducted an evaluation of these projects to assess: their economic impact on the aquaculture industry and overall economies in the Northeast; their effectiveness in solving problems confronting the aquaculture industry; and their effectiveness in securing other research grants.

The assessment found that money invested in the 32 NRAC-funded projects reviewed has benefitted regional Gross Domestic Product (GDP), job growth, and state and local tax revenues. A modest investment of just over $4 million resulted in an increase of almost $79 million in GDP of NRAC states and 777 new jobs, as well as over $4 million in state and local tax revenues and over $9.5 million in federal tax revenues.

The evaluation involved three surveys: one with NRAC project leaders; a second with the research, extension, and industry collaborators who were part of the design and implementation of NRAC projects; and the third with representatives from the aquaculture industry through-out the Northeast region. Data from these surveys were used in an estimation of the economic impact of the NRAC-funded projects in the region and in individual states using an IMPLAN input-output model. A content analysis of publications was conducted to understand how widely NRAC studies are disseminated.

Download the fact sheet (PDF)
Download the final report (PDF)