Results of a newly released economic impact analysis have found that Virginia’s seafood industry contributes $1.1 billion to the state’s economy.
The latest Virginia Seafood Agricultural Research and Extension Center economic impact study found that in 2019 Virginia’s seafood industry supported 7,187 jobs and generated over $26 million in tax revenue from local, state and federal taxes. The study, sponsored by the Virginia Marine Products Board, also found that 24%, or $6.3 million, of the total tax generated was local.
“The study clearly demonstrates the economic value of Virginia’s local seafood production and processing. Seafood aquaculture, primarily oysters and clams, is a major contributor to this $1.1 billion industry,” noted Tony Banks, senior assistant director of agriculture, development and innovation for Virginia Farm Bureau Federation…
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