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Florida Fishing Economic Impact

author
James Lee
• Saturday, 10 October, 2020
• 10 min read

Below are several statistics about Florida's recreational and commercial fishing industries and their economic role. 4 million Florida anglers: FCC Office of Licensing and Permitting 2017/2018 FCC participant report for all unique freshwater and saltwater licensed individuals including saltwater multiplier from the 2011 National Survey.

fishing economics ocean activities roffs
(Source: www.roffs.com)

Contents

Sport fishing generates $125 billion per year towards the United States economy One partner of mine that is very influential in towards Florida ’s economy is Bass Pro Shops.

I just had the pleasure of attending the Daytona Beach Bass Pro Shops grand opening. Onstage at the Bass Pro Shops Grand opening with Tony Stewart, Kendall Nelson and Kevin Vandal.

Facebook: 212,000 followers Twitter: 38.000 followers Instagram: 104,000 followers YouTube: 4,944,000 views and 10,000 subscribers Bass2Billfish National TV show directed, produced and hosted by Peter Miller, airing on NBC Sports and World Fishing Network reaches over 10.4 million actual viewers per year Between the Bass2Billfish and PeterMillerFishing.com Facebook, Twitter, and Instagram accounts…we will have reached over 26 million impressions for 2017! Last year, Florida led the nation in total angler expenditures, with almost $5 billion dollars spent, supporting more than 80,200 jobs.

Fishing supports jobs in several industries, including retail, boat manufacturing and repair, research, and tourism. According to a 2013 Census Bureau report, fishing days increased by 24 percent in the state of Florida from 2006 to 2011.

While some of these visitors came to Florida primarily for sport fishing, others find a way to work fishing activities into business trips or family vacations. Florida ’s expansive coastal environment is home to a wide variety of licensed charter fishing boat options, which are available for individuals or groups to rent all around the state, and Florida annually hosts hundreds of fishing tournaments for locally and internationally competitive anglers.

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(Source: www.roffs.com)

Richard John, fisherman, throwing dead crabs back into the dirty water at Matheson Hammock Marina on July 28. It can result in a food crisis and loss of employment for some of around 60 million people who work directly and indirectly in the fishing industry.

“Wild fish simply can’t reproduce as fast as 7 billion people can eat them,” said Adana Elizabeth Johnson, a marine biologist and founder of Ocean Collective. The impact of overfishing is mostly on the marine environment, but the economy can also be affected immensely. The saltwater fishing industry in Florida is worth around $9.2 billion annually.

Juan Andres Gonzalez, an environmental science student at Florida International University, passionately expresses his concern for the ecosystem. “A majority of the fish in the Caribbean, Central Atlantic and the Gulf of Mexico start their lives here in South Florida,” said Gonzalez.

For instance, Environmental Science shows that a method used to catch clams does damage to the seafloor by killing worms that burrow at the ocean bottom. Alastair Harbor ne, an assistant professor in the Department of Biological Sciences & the Institute of the Environment at Florida International University, said that overfishing affects more than just one species.

Overfishing can also allow seaweed to grow, which often hinders coral reproduction, said Harbor ne. Although the value of recreational fisheries extends far beyond its economic impact, it is important to note that Florida's famed fisheries continue to be a major job creator and to attract millions of tourists.

fishing miller peter economic impact florida states united
(Source: petermillerfishing.com)

This report again documents that Florida remains the Fishing Capital of the World. Florida's role as the fishing destination for travelers was also overwhelmingly reaffirmed, with 2 million non-resident anglers visiting the state (#2 Michigan had 347,000).

), a national organization whose goal is to stimulate public awareness of bass fishing as a major participant sport. Each year the BFN holds a State Championship tournament that attracts both professional and amateur anglers to a competitive event in which participants seek to catch the largest cumulative weight of bass over two days.

There are two ways to qualify for the state championship tournament: (1) finish in the top 70 percent of the field in any one of four tournaments in the angler's region with at least one legal catch, or (2) participate in any Regional Qualifying or Last Chance Tournament with a catch equal to or greater than the weight of the last qualifier in the division (B.A.S.S. In addition, the women's world record bass, weighing 14 pounds 5 ounces, was caught in Lake Toho.

Lake Toho angler surveys conducted by FF WCC from August through November 2011 found that the bass catch rate was 0.82 fish per hour, which is well above the average for many other lakes within the state. The economic impact associated with the BFN fishing tournament on Lake Toho is assumed positive for Osceola County since participants' expenses include lodging and meals (among other expenses) that are incurred in the county.

This article describes an assessment of the economic impact in Osceola County associated with the BFN's State Championship tournament. Findings from this analysis should help planners and other stakeholders of similar tournaments better estimate the economic benefits associated with such community activities.

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(Source: www.nbcnews.com)

Attendees were told that information collected would be very useful to the FF WCC and, as such, they were asked to complete the questionnaire that evening but were not required to participate in the survey. The questionnaire solicited information from participants concerning county of residence, tournament-related expenditures, days spent away from home, number of individuals in the travel party, and participants' assessment of the quality of the fishing site and facilities.

With respect to the expenditure information, respondents were asked about expenses in 10 distinct categories (e.g., vehicle fuel, lodging, food and beverages) and the approximate share spent in the local region (e.g., county) for each. Lastly, to allow for the estimation of the non-market economic value that accrued to participants, respondents were asked whether they would have taken the trip if travel expenses were higher than what was actually incurred.

Indirect impacts occur as local businesses purchase the necessary goods and services to meet the additional demands of non-local tournament participants. Induced impacts occur as households of employees, managers, and business owners spend their additional income (generated by non-local fishing tournament participants) at other local businesses in the area for the everyday necessities of life.

The tournament expenditure estimates provided by local and non-local adult tournament participants were entered into a regional economic modeling software package, Implant (Minnesota Implant Group 2012). Once constructed, these models describe how new revenue (non-local expenditures) for similar events would be expected to affect all types of businesses and institutions in a local economy.

This study will use the local expenditures of non-local residents to estimate the economic impacts of the BFN State Championship tournament with regard to the Osceola County, Florida economy. While estimating the change in overall economic activity associated with new revenue to Osceola County from the BFN State Championship is useful, such a study does not capture the economic benefit to individual participants and other visitors who accompany them to the tournament.

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(Source: usa.oceana.org)

Because travel expenses (defined here to include just the costs of getting to and from the tournament plus lodging) are assumed to reflect the minimum value that the activity has to participants, the value to participants has to at least be as high as the out-of-pocket travel expenses actually incurred. This value, known as “consumer surplus” to economists, is often measured in recreational applications by asking participants whether they still would have taken the trip had it been more expensive.

By summing individual willingness to pay, the recreational benefit of the tournament can be quantified (Lesson and Milan 2012). Residence Participants in the State Championship Tournament travelled to Lake Toho from places within and outside of Osceola County (Figure 1).

Only 2.6 percent of respondents were residents of Osceola County (Table 1, question 3). Palm Beach and Putnam Counties also boasted a relatively high number of residents who participated in the tournament.

Site Characteristics Following a habitat enhancement project in 2004, Lake Toho has provided anglers with a wide range of habitat types well suited for bass (Camaro 2012). At the time of the survey, which was immediately before the tournament, registered participants were asked to rate the quality of the fishing site and its facilities individually as poor, fair, good, very good, or excellent (Figure 2).

Over 70 percent of tournament participants rated the quality of fishing at Lake Toho as very good (36.3%) or excellent (34.4%) (Table 1, question 1; Figure 2, left panel). In terms of facilities, Lake Toho has two fish camps, a marina, a county park, five public boat ramps, two fishing piers, and numerous access points for shore anglers (Camaro 2012).

florida fishing industry glance billion dollar business stats
(Source: www.floridatrend.com)

Most tournament participants rated the quality of Lake Toho's facilities as good (48.1%), but a nearly equal number (44.3% overall) rated the facilities as either very good (32.1%) or excellent (12.2%) (Table 1, question 2; Figure 2, right panel). Party Size Respondents reported that, on average, there were 1.9 people on their trip, including themselves (Table 1, question 6).

Party size ranged from one to 20, with the larger number associated with a fish camp (excluding the 20-person fish camp, the maximum reported number of people traveling together was 7). Expenditures For the purpose of estimating the tournament's economic impact in Osceola County, it is necessary to consider only those expenses reported by out-of-county residents (97.4% of responding participants).

To obtain this information, the reported expenses in each of 10 distinct categories (e.g., vehicle fuel, lodging, and food and beverages) were multiplied by the approximate share spent in the region for each category. Where the expense for truck fuel was unreported or missing, midpoint mileage between the zip code of the respondent's residence and the marina was used with the standard IRS deductible rate on personal vehicles (i.e., $0.51 per mile; IRS 2010) to calculate this expense.

The midpoints of the ranges were used for each respondent, which produces a conservative measure of in-county expenditures since the largest share is 88 percent. Non-resident participants (97.4% of total respondents) spent an average of $703.68 on trip and tournament expenses.

The sum of these averages represents the estimated total expenditures in Osceola County by non-residents. With the majority having come from lodging, the 2011 BFN State Championship tournament brought an estimated $77,941 in new money into Osceola County's economy (Table 3).

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(Source: usa.oceana.org)

As mentioned above, the total revenue impact is less than the spending amount due to the retail margins applied. Value added impacts (i.e., contribution to the GDP of Osceola County) by major industry group (as defined by the North American Industry Classification System ) are summarized in Table 6.

The largest impacts occurred in the Accommodation and Food Services ($18,417), followed by Retail Trade ($9,054) and Real Estate/Rental ($5,631). The 2011 BFN's State Championship Tournament in Lake Toho attracted a total of 165 anglers to Central Florida.

These anglers were asked whether they would have been willing to pay an additional $25 in travel and lodging expenses in order to estimate the economic value they enjoyed as a direct result of participating in the tournament. The economic impacts of the 2011 BFN State Championship tournament to Osceola County, Florida, were estimated using information obtained from registered participants at the mandatory pre-tournament meeting.

This information was first used to calculate the average in-county expense of non-residents by category; it was then extrapolated to the population using the observed share of participants that were non-residents. Total expenditures that represented new money into Osceola County because of the tournament were estimated at $77,941.

The Accommodation & Food Services and the Retail Trade industry groups (Nails sectors 72 and 44–45, respectively) earned the majority of the value-added impact. Future studies could include all members of the party or vary the proposed additional cost if there are a sufficient number of travel companions and participants in attendance.

fishing economics report please
(Source: www.roffs.com)

In addition, the relatively high rate of willingness-to-pay found in this study indicates that the proposed fee (economic benefit) could be set higher since it was too low for most participants. In summary, this basic study was an initial attempt to capture and begin documenting the tangible and intangible benefits that are generated by recreational bass fishing in Florida.

It is important to remember that these impacts were generated from just 160 participants at one tournament in a county that is not dominated by fishing -related businesses (i.e., the multiplier effects are likely low). For example, implementing similar studies at other tournaments would allow for an estimate of the economic impacts over time and space, and allow for an examination of how site characteristics (such as quality of the site for fishing and/or quality of the facilities) are correlated with the economic impacts.

It also would be possible to estimate the economic value of higher bag limits and/or the probability of catching larger fish if data were collected on the fish caught and retained by each angler. Lastly, alternate multipliers for some industry sectors could be used to evaluate sensitivity of the economic valuation estimates.

Florida ’s Coastal Environmental Resources: Guide to Economic Valuation and Impact Analysis. Notes: Sums of percentage responses may not add to 100 due to rounding.

Osceola County residency (question 3) was based on the respondents' home zip code. Question 8 asked about the respondent's year of birth; responses were converted to age by subtracting from 2011.

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(Source: petermillerfishing.com)

Trip costs such as travel and lodging expenses change over time. Notes: Sums of percentage responses may not add to 100 due to rounding.

Value added impacts of bass fishing tournament in Osceola County, Florida, by major industry group U.S. Department of Agriculture, Of/IFAS Extension Service, University of Florida, IFAS, Florida A & M University Cooperative Extension Program, and Boards of County Commissioners Cooperating.

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5 www.epicurious.com - https://www.epicurious.com/recipes/member/views/white-fish-amandine-meuniere-52389741
6 www.food.com - https://www.food.com/recipe/baked-fish-almondine-415465
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