nextLI Report: A ‘Blue Economy’ for Long Island
Long Island has nearly 1,200 miles of coastline. What if our waters could generate more than 100,000 jobs and more than $32 billion of annual economic output?
Newsday’s nextLI engaged HR&A Advisors to model a “Blue Economy” for Long Island — an in-depth analysis of the region’s long term economic outlook through a scenario that envisions an emergent ocean-based economy.
HR&A’s research included a review of Long Island’s growth, analysis of other regional economies centered on water activity, employment forecasts for key industries, and interviews with stakeholders to identify interventions and quantify their economic and fiscal impacts. Specifically, HR&A:
- Reviewed existing economic and demographic conditions on Long Island to outline the opportunity for increased economic activity around water and ocean based industries on Long Island
- Modeled this future economic scenario in terms of employment, wages, economic output, and tax revenues
- Identified critical investments and policy interventions needed in the short, medium and long term in order to achieve results that can spur growth in regional prosperity.
Read the full report below about how a Blue Economy ecosystem can benefit many industries here and enhance the prosperity of Long Island in the coming decades. Send your feedback and ideas on the Blue Economy to nextLI@newsday.com