Economic Contribution

During FY 2024, the activities related to Outer Continental Shelf (OCS) energy development resulted in significant economic contributions. OCS oil and gas generated $7.0 billion in direct government revenue and offshore wind resulted in $15.9 million in government revenue.  In addition, industry undertook different planning, permitting, and development activities resulting in industry spending. These activities resulted in approximately: 

  • 266,000 jobs (including both full-time and part-time employment)
  • $19.5 billion in labor income
  • $32.4 billion in value added (contribution to Gross Domestic Product)
  • $62.3 billion in economic output 

The Economic Contributions of U.S. Offshore Energy Activities during Fiscal Year 2024

During FY 2024, the OCS oil and gas industry supported approximately: 

  • 250,000 jobs (including both full-time and part-time employment)
  • $18.3 billion in labor income
  • $30.8 billion in value added (contribution to Gross Domestic Product)   
  • $59.5 billion in economic output   

FY 2024 OCS-Related Oil and Gas Employment by State 

Figure FY 2024 OCS Oil and Gas Employment

Cumulative Impacts Model and Lifecycle Impacts Model for Assessing Economic and Fiscal Impacts of Offshore Oil and Gas Activities

During FY 2024, BOEM estimates that the OCS offshore wind industry supported approximately:   

  • 16,000 jobs (including both full-time and part-time employment)   
  • $1.2 billion in labor income   
  • $1.6 billion in value added (contribution to Gross Domestic Product)   
  • $2.8 billion in economic output