May 11, 2020 — New Jersey’s hard-hit fishing industry will be allocated $11 million of the $300 million available in the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, according to U.S. Rep. Frank Pallone Jr.
Pallone, a Democrat whose Sixth District stretches along the coast of much of Monmouth and Middlesex counties, said the money will be made available to the commercial fishing, charter and for-hire fishing businesses, aquaculture operations, processors and other fishery-related businesses in the state. The money will be in the form of grants that do not have to be repaid.
The CARES Act was approved by Congress on March 27. Pallone said he thought it “outrageous” that the National Oceanic and Atmospheric Administration has taken until May to make the funds available. Even still, the funds are not ready to be distributed.