October 5, 2021 — The preliminary value to fishermen of the nearly 41 million salmon caught this summer at Alaska’s largest fishery at Bristol Bay is nearly $248 million, 64% above the 20-year average. That figure will be much higher when bonuses and other price adjustments are paid out.
But as with the fish bucks tallied from Alaska’s cod, pollock, flounders and other groundfish (a .78 share), the bulk of the Bay’s salmon money won’t be circulating through Alaska’s economy because most of the fishing participants live out of the state.
In 2017, for example, 62% of gross earnings from the Bristol Bay driftnet fishery and 40% from the setnet fishery left Alaska as nonresident earnings.
That’s due to the region experiencing an overall 50% decline in local permit holdings since Alaska began limiting entry into commercial salmon fisheries in 1975. Combined, residents of the Bristol Bay region now hold less than one-quarter of the region’s salmon permits.