The many industries associated with Long Island’s waters have never worked in sync to become a major economic center.
If they did, it would change the island’s economic landscape.
From aquaculture to marine exploration to offshore wind energy, these sectors could be woven into a single ecosystem, a “blue economy” that would find new ways to connect Long Island’s future growth to the surrounding water.
A new report commissioned by Newsday’s nextLI initiative, a resource and digital community that offers impartial research on issues affecting the region, shows that with the right policies and attention, the blue economy can grow tens of thousands of new Could create jobs – and billions more in economic activity and tax implications.
This is an incredible opportunity. And the moment is ripe. Easily available federal and state incentives could already support the development and growth of the blue economy. The tools, including regulations and funds for infrastructure and climate change, are already in place. Government officials, business leaders and advocates need only focus their energy and attention on expanding the blue economy into a job-creating, activity-creating network.
The nextLI report, prepared by HR&A Advisors, shows that Long Island needs a boost, a new source of economic power that could propel it forward. In the decades since the region lost its defense and aerospace industries, its replacement jobs have all too often failed to meet the needs of the workforce. About three-quarters of new jobs on the island are in sectors that have less of an impact on the broader economy. And according to HR&A, nearly two-thirds of the new jobs on the island since 2001 have been in industries with average annual earnings of less than $75,000.
Attention to Long Island’s blue economy could change all that.
The pieces of a Blue Economy have always been here. Our geography lends itself to industries such as aquaculture, fisheries, shipbuilding, and transportation, which include occupations such as fishing crews, farmers, construction workers, engineers, and boat pilots. Our research facilities offer young companies the opportunity to benefit from new ideas, including in the fields of marine research and biotechnology related to marine organisms. Tourism and recreation depend heavily on Long Island’s 1,200 miles of coastline for boating, water sports, seafood restaurants and more.
MORE JOBS
These industries together provide nearly 68,000 jobs, about 5% of the region’s total. If local, state and federal leaders did nothing, the blue economy would grow at a modest pace and offer a whiff of what is possible. But there is much more that can be done.
With the right investment and attention, the blue economy could create 127,800 jobs by 2051, or 8% of the region’s workforce, according to HR&A estimates. And that growth could spill over into the local economy: as people earn higher wages, spend more elsewhere, and impact other industries, it could create 195,000 jobs, $41 billion in economic output, and more than $2.6 billion create tax revenue.
Tourism will be a big part of this cake. But growth in marine research and the still-developing offshore wind industry could also have a particularly large share of the blue economy’s gains.
A spotlight on the blue economy would go well with the need for critical attention to climate change. Last week’s announcement that Stony Brook University will anchor the New York Climate Exchange initiative on Governors Island shows what’s possible. And while Suffolk County would probably benefit the most, there are opportunities across the region.
Success stories elsewhere provide a blueprint. Portugal, for example, set up a Blue Fund that provided research and development funding to encourage its workforce to move into blue economy-related industries. Portugal’s blue economy jobs grew at eight times the national baseline.
LONG TO-DO LIST
To get there, Long Island has a long to-do list that will require the support of state and federal officials and a willingness to move beyond traditional objections to housing, population growth, and additional industry and development.
The rationalization and further development of permits for cables, transmission lines and grid infrastructure for offshore wind energy is crucial, as is investment in water quality improvements and research incentives. Ensuring local hiring, setting up workforce training and building housing for workers will also help.
Smaller steps are also needed, including expanding seaweed and shellfish farming, creating better access to shores for tourism and recreation, and opening a blue economy incubator that could transform ocean-related research into commercial innovation. Existing Long Island manufacturers who already have the tools and foundation could benefit from a renewed focus on the blue economy if they receive technical support and make the necessary upgrades. HR&A cites Roman Stone Construction, a concrete products manufacturer that has switched to offshore wind.
Long Island must act quickly and carefully. We’ve been here before where a new industry presents excitement and promises only to lose momentum — like the region’s attempted forays into pharmaceuticals and life sciences. That must not happen this time. There is too much potential in our oceans, coasts and waterways to turn this dream on its head.
EDITORIAL MEMBERS are experienced journalists who provide reasoned opinions based on facts to stimulate informed debate on the issues facing our community.
The members of the Editorial Board are experienced journalists who provide reasoned opinions based on facts to stimulate informed debate about the issues facing our community.
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