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August 2006, Vol. 129, No.8
Hurricane damage to the ocean economy in the U.S. gulf region in 2005
Charles S. Colgan
Professor, National Ocean Economics Program, Muskie School of Public Service, University of Southern Maine, Portland, Maine, and chief economist for Market Data for the National Ocean Economics Program.
Economist and Program Manager, National Oceanic and Atmospheric Administration’s Coastal Services, Charleston, SC.
In 2004, the ocean economy of the region encompassing Florida, Alabama, Mississippi, Louisiana, and Texas, stretching from Franklin County, Florida, to Brazoria County, Texas, employed 291,830 people in wage and salary jobs paying nearly $7.7 billion in wages. Counties and parishes of the gulf coast ocean economy affected by Hurricanes Katrina and Rita saw the greatest insured dollar losses in 1 year from suchlike catastrophes in U.S. history. The affected region was the heart of the industrial sectors of the American ocean economy, and the recovery of these industries will be critical to both the region and the Nation.
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