Vol. 7 No. 13 | Commercial Menhaden Fishing in the Gulf of Mexico States
Economic Contribution of Menhaden Commercial Fishing
Economic impact analysis shows the contributions an industry makes locally, region-wide, or nation-wide. This information is necessary for making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The Gulf of Mexico regional economic model was developed using the IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States. The sector employed in the analysis was number 17 or commercial fishing of the 2013 IMPLAN input-output data. Due to the lack of reliable data, the contributions of menhaden processing, wholesaling, and retailing to the Gulf States economy were not included in the present analysis.
The total commercial landing values in the Gulf of Mexico States in 2015 significantly increased to $138.51 million, which is more than twice the average annual landing value. The total economic contribution of menhaden fishing in 2015 reached $262.8 million (Figure 1). Commercial menhaden fishing created 3,768 jobs and generated labor income amounting to $93.8 million in the Gulf regional economy.
The menhaden commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. A total of $16 million were estimated to have been paid by households and businesses in 2015 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were expected to have collected taxes from households and businesses in 2015 amounting to $7.8 million as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.
Menhaden Commercial Landings
According to Gulf FINFO (http://gulffishinfo.org/), Gulf menhaden (Figure 2) “are found from the Yucatan Peninsula in Mexico, across the western and northern Gulf to Tampa Bay, Florida. They’re most abundant from eastern Texas to western Alabama. Menhaden are very boney and oily and have no appeal as food. However, they support a very important reduction fishery—meaning the whole fish is “reduced” to produce fishmeal, oil, and solubles that go into all kinds of products, from aquaculture and agriculture feed and fish oil pills to pet food and fertilizers.”
Figures 3 and 4 show the long-term commercial landings and percent share of menhaden from the Gulf of Mexico States. On average, the Gulf States supplied about 68% of total domestic landings amounting to 1.29 billion pounds and valued at $66.97 million per year. Louisiana (82%) is the largest producing state in the Gulf of Mexico, followed by Mississippi (18%). The bulk of the menhaden landings occurs starting in April until October.
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