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Economic Benefits (Research on the economic benefits of / cost mitigation by NOAA data & products related to Aquaculture)

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1. Domestic aquaculture production (marine and freshwater) could increase by 1 million metric tons annually by 2025, generating 75,000 jobs and $2.5 billion in farm-gate sales, and enhancing regional food supply and security (NOAA National Marine Fisheries Services, 2004).
2. NOAA Sea Grant research efforts to develop new drugs from marine organisms have resulted in discovery and description of more than 1,000 compounds that may be vitally important to the health industry, as new anticancer, anti-inflammatory, and antimicrobial agents (NOAA National Sea Grant, 2002).

3. Aquaculture Statistics to show the weight of production of different categories in 2005 (NOAA Aquaculture Program, 2008)

   Species	Pounds	Metric Tons	USD
   Finfish
   Baitfish	NA	NA	$38,018,000
   Catfish	607,933,000	275,757	$429,245,000
   Salmon	20,726,000	9,401	$37,439,000
   Striped bass	10,970,000	4,976	$27,655,000
   Tilapia	17,203,000	7,803	$29,620,000
   Trout	60,636,000	27,504	$65,469,000
   Shellfish
   Clams	12,564,000	5,699	$72,783,000
   Crawfish	35,933,000	16,299	$21,143,000
   Mussels	962,000	436	$4,990,000
   Oysters	13,711,000	6,219	$92,602,000
   Shrimp	8,037,000	3,646	$18,684,000
   Miscellaneous	NA	NA	$254,738,000
   Totals	788,675,000	357,741	$1,092,386,000

4. Value of aquaculture products sold by type in 2005 (NOAA Aquaculture Program, 2008)

   Product	USD
   Food Fish	$672,377,000
   Mollusks	$203,183,000
   Miscellaneous	$56,003,000
   Crustaceans	$53,381,000
   Ornamental Fish	$51,297,000
   Baitfish	$38,018,000
   Sport Fish	$18,126,000
   U.S. Total	$1,092,386,000

5. NOAA Sea Grant research and extension efforts have contributed to the growing of hybrid striped bass in ponds. In just 10 years, a small demonstration project has led to an industry that produces 10 million pounds of fish valued at $25 million/year (NOAA National Sea Grant, 2002).
6. NOAA's Hawaii Sea Grant program has contributed to the founding or operation of eight pearl farms, four demonstration and training pearl hatcheries, 15 giant clam farms (including the largest commercial giant clam aquaculture venture in the Pacific) and 20 sponge farms (Micronesia is the only area that farms sponges). Overall, the number of aquaculture enterprises in the Hawaiian Islands has reached 126 farms valued at $25.2 million, which translates into approximately 630 jobs (Hawaii Sea Grant, 2003).