Total seafood earnings, employment, and exports have all increased over the past two years. Over four billion pounds were harvested in 2005, worth $1.3 billion in gross earnings to fishermen, and resulting in more than 6,700 direct jobs. This is the highest value paid to commercial fishermen since 1999 and second highest value since 1995. Alaska’s commercial fisheries are among the best–managed fisheries in the world. Regulations put strict limits on the total allowable catch to ensure fish stocks remain healthy and subject to sustainable harvests. Environmental laws further safeguard the quality and safety of the product. Through private and public marketing partnerships intended to promote the superior quality and flavor of Alaska seafood products, Alaska commercial fishermen are gaining greater pricing average, not only with domestic high-end restaurant buyers, but in the growing global marketplace.

Alaska’s seafood industry is under competitive pressure from other wild capture sources and huge increases in aquaculture products in the world. The Alaska seafood industry must continue to make technical advances in commercial fish harvesting and seafood processing to maintain and improve its global market position.

Alaska’s commercial harvests have remained fairly constant in recent years, while the value of the catch is growing. This is due in large part, to improved handling and product recognition resulting in greater demand by consumers.

While the total national value of Alaska seafood was estimated at over $4.6 billion in 2001, only $1.3 billion was earned by Alaskans. There remains great potential for Alaska to capture more value from seafood by building its primary and secondary processing sector and seafood-related businesses.

Public and private efforts have merged to combat increased competition and improve the economic value earned in Alaska. In 2003, the Murkowski Administration initiated the $50 million salmon-industry Revitalization Strategy that continues into 2006. This multi-year strategy includes aid for individual fishermen, aid for struggling communities, economic-development grants and other economic development programs for private and nonprofit entities. Such programs work to improve the business environment for small businesses through technical assistance, matching grants, loan programs, and product quality improvements. Leveraging efforts - matching dollar for dollar - undertaken by the Governor’s Fish Cabinet and implemented through the State of Alaska Department of Commerce, Community and Economic Development’s Office of Economic Development has resulted in over $85 million to the salmon industry alone. Such strategies are also resulting in grantees making further investments into their operations and have opened up new markets.

--Excerpt from the Alaska Economic Performance Report 2005. For more information and a complete copy of that report, see http://www.dced.state.ak.us/dca/pub/AEPR_Web_2005.pdf