Contact: Tammy Graham FOR IMMEDIATE RELEASE
(202) 482-6090 3/3/95
Scott Smullen
(301) 713-2370
The U.S. Commerce Department today announced a $2 million pilot program to buy fishing vessels in the Northeast and retire them from the significantly overcapitalized fishery.
The experimental program will be developed in consultation with the Northeast fishing industry, its Congressional delegation and others.
NOAA is developing a demonstration buyout program at the request of many members of the industry and others who have called for the federal government to purchase fishing vessels or permits from Northeast fishermen adversely affected by fishing regulations aimed at avoiding the near extinction there of stocks of cod, haddock and yellowtail flounder. The goal of a buyout is to reduce the overcapacity that currently exists in the fishery. The goal of the demonstration program is to explore the most effective way of accomplishing capacity reduction.
"We recognize that $2 million will not have a significant impact by itself in reducing the fishing capacity in the Northeast, but as a pilot program it will help us create parameters and determine whether a full-scale program is feasible," said Doug Hall, Commerce assistant secretary for oceans and atmosphere. "There are some in the fishing industry who are concerned about buyouts - pilot program or otherwise. Thatþs why we'll be sitting down with as many folks as possible so that we can move forward with a detailed pilot program."
NOAA officials said the pilot program will be designed with input from members of the fishing industry, the Northeast Congressional delegation, fishery management councils, state and local officials, and private foundation community members at a series of public meetings. The first informal meeting between NOAA officials and members of the fishing industry will take place Sunday in Rockport, Maine, following the Maine Fishermenþs Forum. The meeting will start at 9:00 a.m.
According to NOAA officials, the intent of the pilot program is to determine the feasibility and the implementation process of such a buyout, including whether the buyout would encompass vessels or fishing permits, whether it would target certain vessels, and how prices would be established. Additionally, the pilot program will be used to gauge the level of interest and commitment from the fishing industry.
The pilot buyout program will be administered by NOAAþs National Marine Fisheries Service, using funding available from the Northeast Fisheries Emergency Assistance Program.