CONTACT: Matt Stout (202)482-6090 FOR IMMEDIATE RELEASE
John Bullard (202)482-3384 5/11/95
The final draft of the Commerce Department's $2 million pilot vessel buyout program to help address the Northeast fisheries crisis was released today, the National Oceanic and Atmospheric Administration announced today.
NOAA's Office of Sustainable Development and National Marine Fisheries Service have completed the conceptual design for a program to permanently reduce the current fishing capacity in the Northeast groundfish fishery.
The program reflects input solicited over the past two months from Congress, the fishing industry, fishery management councils, state and local government officials, and members of the environmental community.
"We intend to have this program design implemented as soon as is administratively possible," said Douglas K. Hall, Commerce's assistant secretary for oceans and atmosphere. "June 15, 1995, is our target date to invite vessel bids."
The program, called the Fishing Capacity Reduction Demonstration Program (FCRDP), is based on three fundamental principles:
1. Participation is voluntary
2. Vessels will be selected through a reverse bidding process
3. Selected vessels will be scrapped and all federal fishing
permits attached to the vessels must also be
surrendered.
The entire $2 million will be used for the retirement of vessels and permits. FCRDP's administrative costs will be absorbed by NOAA.
"This is a demonstration program through which we hope to develop an understanding about how to fairly and effectively manage a program to reduce fishing vessel capacity," Hall said.
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EDITOR's NOTE: A fact sheet and FCRDP draft are attached.