Cutler Institute

Exciting New Report Commissioned on Ocean Economy Industries

Casco Bay Estuary Partnership (CBEP) commissioned the report, The Economic Contribution of Casco Bay, which was prepared by the Maine Center for Business and Economic Research. This report assesses the economic importance of ocean economy industries in Casco Bay, including living resources, tourism and recreation, ship and boat building, and marine transportation. The report includes information on the market values, jobs, and wages associated with these industries, as well as the likely effects of climate change on the ocean economy sectors.

Economic information can be a powerful motivator for decision-makers in the Casco Bay region, yet few business or municipal leaders are aware of how much Casco Bay resources contribute to the regional economy. Even fewer data sets are available for assessing the economic impacts that coastal changes may bring to the region in terms of sea level rise, marine ecosystem disruptions (such as ocean acidification and effects of invasive marine species), and changing precipitation patterns.

This study will be presented throughout Casco Bay to groups of business owners, neighborhood associations, municipal leaders, and finance representatives. In the shorter term there will be increased understanding of the scope and characteristics of the ocean economy of Casco Bay, as well as the importance of the Bay and its resources to communities. In the longer term the hope is that there will be broader, well-informed support for policies and decisions that protect and restore the Bay.

Casco Bay Estuary Partnership (USM) staff commissioned and guided the project. The report was prepared by the Maine Center for Business and Economic Research (USM) and Rbouvier Consulting.