PRESS RELEASES

FOR IMMEDIATE RELEASE
Contact: Jess McCluer | (202) 347-5462

U.S. Commercial Shipyard Industry Adds $11 Billion to Economy

Washington, DC - April 1, 2002-- A new study released today by the Shipbuilders Council of America (SCA) found commercial shipyard activity in 2001 increased the U.S. gross domestic product by $11 billion; created or sustained 31,238 direct shipyard jobs and an additional 115,992 jobs throughout the U.S. economy; increased U.S. personal income by $9.4 billion; and, increased Federal, state and local tax revenues by $3.4 billion.

There are active commercial shipyards in 29 states; however, the study determined that all 50 states and the District of Columbia receive economic benefits from activity in commercial shipyards. SCA President Allen Walker stated, "We have always known that the U.S. commercial shipyard industry is a valuable national security asset, but this study clearly shows that the industry makes a substantial contribution to our national economy as well."

The study entitled, "The Economic Contribution of the U.S. Commercial Shipbuilding Industry" was conduced by LECG, LLC, a Washington, DC-based economic research firm. The analysis included facilities that build self-propelled vessels and barges and clean, repair and convert ships and barges. Facilities that build Navy combatant vessels were not included in the study.

SCA is the largest and most broad-based national trade association representing the U.S. shipyard industry that primarily builds, repairs and services America's fleet of commercial and small/mid-sized government vessels. The Council represents 51 shipyard companies that own and operate over 120 shipyards in 25 states. SCA also represents 38 affiliate members that provide goods and services to the shipyard industry.