Opening Bell
Statshot: Maritime Punch
A hub of innovation
By Seattle Business Magazine June 18, 2024
This article originally appeared in the May/June 2024 issue of Seattle magazine.
Working waterfronts across Washington state boast significant economic benefits.
The state maritime industry creates more than 174,000 direct and indirect jobs and $14.4 billion in labor income. A study commissioned by the Washington Maritime Federation found that the average annual salary for maritime-related jobs is $112,000, including benefits.
The study notes that, while the majority of activities are along Puget Sound, commercial fishing, seafood production and river port facilities, rail, recreational boating, and logistics operations account for $46 billion in statewide economic impact.
The study was released late last year. It was conducted by McKinley Research Group, in association with High Peak Strategy. Here’s a look at the numbers:
Big Number:
$168,957
Average annual salary of computer engineering graduates from the University of Washington just four years after graduation, second in the United States behind only Princeton University’s School of Engineering and Applied Science.
Source: Hostinger
Quote:
“Our concern has been that 2024 will turn out like 2023 … but the people now coming into the housing market know what they’re getting into, having become more accustomed to mortgage rate volatility.”
Redfin CEO Glenn Kelman on a recent call to investors. The Seattle online real estate marketplace reported a $23 million loss on $218 million in revenue in its fiscal fourth quarter.
Source: SEC