The money will not go to individual fishermen impacted by the new rules which are expected to slice the region’s fishing revenue by $17.4 million, or nine percent.
Rather, the money will help the region develop a new way of fishing: Giving groups of fishermen a total amount of fish they can catch each year, but letting them figuring out how much – and when – each can catch their allotted amount. There are already two “sector” program like it in New England and 17 more proposed.
“The resources announced today will help the region transition to a better future, a future characterized by healthy fisheries and healthy oceans,” said Patricia Kurkul, Northeast Regional Administrator for the National Oceanic and Atmospheric Administration.