Figure 1. Yellowtail snapper (Ocyurus chrysurus, Bloch, 1791). The photo was taken by Amanda E. Jefferson.
The long-term annual commercial yellowtail snapper landings in the Gulf of Mexico states are shown below. Since 2011, the Florida West Coast supplied 94.5% of the whole yellowtail snapper domestic landings averaging 2.0 million pounds and valued at $5.9 million annually. The Eastern Atlantic states provided the rest of the total domestic landings. Dockside prices of yellowtail snapper averaged about $3.00 per pound during the past six years.
Figure 2. Annual commercial yellowtail snapper landings in the Gulf of Mexico states. Source of raw data: NOAA Fisheries. Last visited: July 5, 2018. http://www.st.nmfs.noaa.gov/.
The economic contribution commercial yellowtail snapper fishing makes locally, region-wide, or nation-wide is crucial information in making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States were used to estimate the economic contribution of commercial fishing to the Gulf of Mexico regional economy in 2016. The economic analysis used sector 17 or commercial fishing of the 2013 IMPLAN input-output data.
The annual commercial dockside values of yellowtail snapper in the Gulf of Mexico states in 2016 reached $6.9 million, which was 22.7% more than the average yearly dockside values in the region since 2011. The total output contribution of commercial Yellowtail snapper fishing in 2016 amounted to $13.2 million. The yellowtail snapper commercial fishing sustained 183 jobs and generated labor income amounting to $4.7 million in the Gulf regional economy.
The yellowtail snapper commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. More than $800,000 was projected to have been paid by households and businesses in 2016 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were anticipated to have collected taxes from households and businesses in 2016 amounting to almost $400,000 as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.