Skip to main content

House bill adds outdoor recreation to GDP index

In one of its first acts upon returning to Washington, the U.S. House of Representatives unanimously passed the Outdoor REC Act.

In one of its first acts upon returning to Washington, the U.S. House of Representatives unanimously passed the Outdoor REC Act, a bill that moves to count the outdoor recreation economy as part of the U.S. gross domestic product.

The bill quantifies the true size of the outdoor economy, including recreational boating.

The Senate Commerce Committee passed a companion bill earlier this year. If the full Senate approves the legislation before the holidays, President Obama can sign it into law.

The REC Act would direct the Commerce Secretary, through the Bureau of Economic Analysis, to “conduct an assessment and analysis of the outdoor recreation economy of the United States,” according to the National Marine Manufacturers Association.

The NMMA said the Secretary of the Interior enacted a temporary pilot program in April. Congressional action is needed to make sure the outdoor economy — and its estimated 6 million jobs and $646 billion in economic activity — receives official government recognition for years to come, the NMMA said.

Recreational boating is a significant part of the outdoor economy, representing billions of dollars in economic activity and hundreds of thousands of jobs.

The NMMA said it is an active part of the team that will work with the Bureau of Economic Analysis to shape how outdoor recreation is defined and ensure that the reach and impact of the boating industry are recognized.

Related

1_LIMESTONE

Limestone Secures Financing for Expansion

The company said the $6 million in credit will be used to improve its Tennessee manufacturing facility and buy new equipment.

1_MCKENZIE

Mastry Marine Names Repower Center

St. Augustine, Fla.-based McKenzie Marine is the engine distributor’s latest designated Suzuki Repower Center.

1_VANDERBILT

Vanderbilt Ships First Pontoon

The company said the 700T Series was the first model shipped from its new Fort Wayne, Ind., factory and was delivered to The Marina in Angola, Ind.

1_CHIPS.ACT

NMMA Celebrates CHIPS Act

The legislation aims to return semiconductor manufacturing to the U.S. and allows businesses to deduct R&D costs in the same year they are incurred.

1_COX

Cox Marine Hires Sales and Support Staff

The diesel outboard builder this week brought aboard a new regional sales director, regional sales manager and an aftersales manager.

1_DEALEROUTLOOK

Boating Interests Lose Wind Farm Battle

The Ohio Supreme Court has ruled that a proposed wind farm off the Cleveland, Oh., waterfront meets planning requirements.

1_INFLATION.JULY

July Inflation Data Lags June

Consumer Price Index results may indicate that inflation has peaked, and Producer Price Index data was below market expectations.

1_YAMAHA

Yamaha Posts Higher Sales, Profit

The company’s first half 2022 net sales increased to $1.93 billion, and segment income rose to $330 million.