CHICAGO – The Recreational Marine Research Center (RMRC) will be conducting an economic impact study on the Great Lakes region using a grant provided by the Great Lakes Commission, the National Marine Manufacturers Association (NMMA) reported in a press release yesterday.
The study will determine the economic importance of boating in the eight states that fall in the Great Lakes region: Michigan, Minnesota, Illinois, Wisconsin, Pennsylvania, New York, Ohio and Indiana.
"This is a comprehensive study that will determine the economic value of boating to each community, incorporating salaries, wages, benefits, taxes and ancillary expenditures including service, fuel repairs, storage and other factors," NMMA Market Statistics Director Jim Petru said.
Developed through a partnership between Michigan State University and NMMA to address market research needs in the marine industry, RMRC will undertake the first study of its kind in the Great Lakes, according to Petru.
The results are expected to make an argument for elevated federal and congressional attention on the needs of the Great Lakes recreational boating community.
"The project will serve as a template for future studies the RMRC performs," Petru said. "The center's long-term goal is to conduct an economic impact models at the congressional level for all 50 states, and this is just our first foray into a multiyear initiative."
The study is targeted for completion by the end of August 2004.