Category Archives: Economics

Congress Take Note: New Reports Show Progress for US Fisheries

status_determination_listings_2013_status_of_stocksThe National Oceanic and Atmospheric Administration (NOAA) last week released two reports pointing to continued improvements in US fish stocks. Taken together, they send a clear message: that fisheries nationally are turning the corner as sustainable and more innovative management approaches take hold. Congress should take note.

The first report, the so-called Status of Stocks report to Congress  revealed that seven stocks were removed from the overfishing list last year and four from the overfished list. Two more stocks were declared “rebuilt,” bringing the total number of rebuilt stocks to 34 since 2000. Twenty-eight species are still on the report’s overfishing list, reminding us that there is still work to be done. But after decades of mismanagement that depleted fisheries and hurt coastal communities, the positive momentum of recent years is unmistakable.

The second report released concurrently by the agency, Fisheries Economics of the US 2012, underscored the critical role that healthy fisheries play in our nation’s economy. According to the report, U.S. commercial and recreational saltwater fishing generated more than $199 billion in sales in 2012, a gain of 7% over the previous year. It also found that the economic impact of fishing jobs increased 3% from 2011 to 2012. Such year-on-year growth is to be welcomed. Read More »

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Sharing the catch means more for everyone

It may seem counter-intuitive that sharing the catch yields more fish and economic benefits for fishermen and coastal communities, but that is exactly what catch shares are proven to do.

NMFS (National Marine Fisheries Service) recently released its first national report assessing the economic performance of catch share programs in the United States. This report further validates the findings outlined in a 2011 Marine Policy Paper,  “Assessing Catch Shares’ effects evidence from Federal United States and associated British Columbian Fisheries (Grimm et. al),  which examined 15 catch share programs in the U.S and British Columbia before and after catch share implementation.

While these two studies differ slightly in selected fisheries, variables and time frame, they both conclude that catch shares consistently outperform conventional management systems across the board. Graduating to catch shares yields a robust return on investment: longer seasons, fewer risks, higher revenues, less waste and more full time jobs. An overview of the findings from Grimm et al. is presented in the table below.

[Chart summarizing catch share benefits. Data adapted from Grimm et.al ]

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