A new report evaluating the possibility of a Chesapeake Bay passenger ferry in Anne Arundel County and other waterfront jurisdictions shows it could stimulate economic growth across the region, though it would operate at a $2.5 million loss in its first year.

The report, unveiled Thursday at the Maryland Association of Counties conference in Ocean City, includes potential routes, ridership estimates, vessel requirements and financial analysis.

The study, conducted by Cambridge Systematics, a transportation consulting firm, looks at how a passenger ferry system could affect economic growth and tourism, increase access to the bay and provide new water connectivity across the region. A five-county consortium was part of the study, including Visit Annapolis & Anne Arundel County and governments from Calvert, St. Mary’s, Somerset and Queen Anne’s counties.

“We are optimistic about the study results and the path forward, which could better connect our Chesapeake Bay destinations and create economic impact across the entire state,” Kristin Pironis, executive director of Visit Annapolis & Anne Arundel County, said in a news release.

A map of the proposed ferry system’s locations and routes along the bay was released in February, identifying 21 potential host communities. Potential routes have changed slightly since then, however, and only 14 of the host sites are included. None of the six newly released routes have been finalized.

The longest proposed route could begin in Baltimore and head south to Annapolis before crossing the bay to make stops in Matapeake, St. Michaels, Kent Narrows and Rock Hall before returning in the afternoon. Another would start in Annapolis and head north to Baltimore, then cross the bay to Rock Hall, Kent Narrows and St. Michaels. A third could begin in Annapolis and head south, stopping in Chesapeake Beach and Solomons Island in Calvert County before heading to Crisfield on the lower Eastern Shore.

Expansion to seven additional communities would come later.

The ferries would operate Thursday through Monday from mid-April to mid-October.

The system is assumed to include seven vessels: two 149-passenger ferries and five 49-passenger ferries that could venture into shallower waters. Because the ferries would cruise at roughly 25 knots, or 28 mph, a catamaran design would offer more stability, the study says. Each ferry would have indoor and outdoor seating and restrooms.

These types of vessels range from $750,000 for a used, refurbished one to $11 million for a new one, according to the study.

Each of the proposed ferry terminals would require pier infrastructure, a covered building, restrooms and access to transit.

Once built, the system could handle 50,000 riders per season, the study says, with adult fares being $10 per hour on the water.

The report puts the price of other ferries and boat tours across the country at around $20 per hour on the water. A recent ridership survey found respondents would be more inclined to ride the Chesapeake Bay ferry with lower fares.

While the proposed ferry system is estimated to generate $2.5 million in revenue, it’s also likely to cost $5 million to operate during its first year, the study says, meaning it will have a negative pre-tax income of $2.5 million. That shortfall does not include roughly $4.8 million in improvements needed at the 14 proposed sites.

Without support from the host communities, the system would operate at a loss, the study says.

Financial performance of the ferry system would improve with higher ridership costlier tickets, the study says. Grant funding could reduce vessel capital costs, and public or private contributions could reduce terminal improvement costs.

However, if ridership during the ferry system’s first year reaches estimated levels, 143 jobs would be generated along with $6.7 million in labor income and $2.6 million in tax revenue.

A public/private partnership is suggested as the best governance structure to move forward with the project, the study says.

Next steps will include talking to community leaders, confirming site readiness, developing a funding plan and establishing a schedule.