June 5, 2014 — Despite last week’s announcement of a $14.5 million federal disaster grant to the Massachusetts fishing industry, area fishermen and marine analysts believe that the funds will only serve as a stopgap for an industry that has nearly collapsed because of declining groundfish stocks.
“You have an investment that is worthless,” said Russell Sherman, who has been fishing for cod, haddock, and other groundfish off of Gloucester’s waters since 1971.
As part of the $14.5 million grant, Sherman — along with 52 other Gloucester fishermen and another 13 along the North Shore who hold federal groundfish permits – will each receive $32,463. The stipends are part of a $32.8 million overall grant to the New England states, which have been hard-hit by federal regulations in the last two decades. Since rules were implemented to rebuild stocks of cod, flounder, haddock, and other groundfish, fishermen such as Sherman have seen their work days shrink from nearly year-round to a quota system that reduced their overall Gulf of Maine cod catch by 78 percent last year.
Throughout the state, 194 fishermen will receive a total of $6.3 million in emergency funds. In addition, the Massachusetts Department of Fish & Game will spend the coming months creating a plan to distribute another $8.2 million in federal funds to the Massachusetts fishing industry. National Oceanic and Atmospheric Administration spokeswoman Marjorie Mooney-Seus said the state could disburse the $8.2 million to assist recreational fishermen, commercial crew members, or shore-based fishing industries, or even allot more funds to permit-holding boat owners.
Read the full story at The Boston Globe