Transportation Institute reports growth in Jones Act generated jobs

The Transportation Institute (TI), a Washington, DC, based non-profit organization that advocates and works for the U.S. flag maritime industry, today reported a 30% increase in domestic maritime job creation enabled by the Jones Act. Thanks to the law, says TI, the industry now employs nearly 650,0000 Americans across all 50 states and contributes $154 billion to the nation’s economic growth annually.

A newly released study published by PricewaterhouseCoopers (PwC) for the Transportation Institute finds that the Jones Act-enabled maritime industry:

• Contributes more than $154 billion in total economic output annually
• Creates $41 billion in labor income for American workers each year
• Adds $72 billion annually to the value of U.S. economic output
• Sustains nearly 650,000 American jobs, with one shipyard job creating four jobs elsewhere in the economy

“From shipyards to the high seas, the maritime industry is indisputably contributing to the American economy in a major way,” said James L. Henry, Chairman and President of the Transportation Institute. “This new study shows the spectacular impact that our industry has on our nation’s overall well-being, especially by providing livelihoods to 650,000 hard-working Americans, thousands of whom proudly served in our military. We simply would not be as strong as we are without the veteran community, and it’s a source of great pride that our growth is benefitting them and their families. Needless to say, the report underscores just how indispensable the Jones Act continues to be for the security and prosperity of our entire country.”