November 27, 2023. The Washington Maritime Federation (WMF) released a study documenting the tremendous impact of maritime businesses and activities on Washington State’s economy. The average annual compensation in maritime-related jobs is $112,000 including benefits. The study details an industry – a culture of commerce and trade that was built and continues on the ports of Puget Sound – that is a foundation of our state’s economy and a leader in innovation and sustainability.
“The Economic Impacts of Washington’s Maritime Industry” was conducted for the WMF by McKinley Research Group in association with High Peak Strategy.
Overall, Washington’s maritime sector contributes more than $382 million including direct and indirect/induced impacts to Washington State revenues. Maritime Logistics and Shipping have the largest impact, with Shipbuilding Repair and Maintenance second, and Commercial Fishing and Seafood Processing third.
The Magnolia Chamber of Commerce is proud of all our maritime companies and the sector. We have many maritime related members and proudly count Fishermen’s Terminal as an integral business district in Magnolia. The report helps solidify that the maritime industry is not only a key economic engine to Seattle, but essential to the state of Washington. To learn more about the maritime sector’s commitment to innovation & sustainability, visit Maritime Blue, located in NE Magnolia.