November 12, 2024 — A coalition of U.S. East Coast states have selected two firms to manage the Offshore Wind Fisheries Compensation Fund, a mitigation program built to compensate commercial and recreation for-hire fishers for revenue lost due to offshore wind developments.
The fund is a collaboration between the governments of 11 East Coast states – Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, Maryland, Virginia, and North Carolina – to provide financial compensation for economic loss caused by offshore wind projects along the Atlantic Coast. The states launched a competition earlier this year to select an administrator to run the new fund.