October 16, 2020
The fishing industry in New Jersey will soon receive an economic boost in the form of grant money from the state's government, legislators announced.
New Jersey will put $11.3 million in federal fisheries relief towards commercial and recreational fishing businesses that have been negatively impacted by COVID-19. Money will be provided to businesses in the form of grants using funds allocated to the state as part of the Coronavirus Aid, Relief and Economic Security Act.
Fishing businesses that have seen their revenue decline by at least 35% will be able to apply, the New Jersey Department of Environmental Protection, DEP Commissioner Catherine R. McCabe and Gov. Phil Murphy announced Thursday.
"Fishing is an integral part of New Jersey’s identity and a critical component of our economy," Murphy stated in a release. "This grant program will help these businesses recover losses they have incurred during very difficult times. And we can all play a role in supporting New Jersey’s fishing industry by buying from local seafood suppliers and enjoying fishing through charter boat operations and bait and tackle shops."
The fishing industry in New Jersey creates more than 50,000 jobs and $2.5 billion in revenue annually.
"The DEP is pleased to assist in bringing this much-needed financial support to New Jersey’s valuable fishing industry and communities, which have been hard hit by the COVID pandemic," said McCabe. "We are especially grateful to New Jersey’s legislative delegation and our federal partners at the National Oceanic and Atmospheric Administration for their support of this program."
Approval to allocate the funds was given by the National Oceanic and Atmospheric Administration on Tuesday. New Jersey initially requested to use the funds back in March, when fisheries funding was first allocated to the state through the CARES Act.
@GovMurphy's administration CARES about NJ's commercial & recreational fishing businesses.🐟— New Jersey Department of Environmental Protection (@NewJerseyDEP) October 15, 2020
💸 That's why $11.2 million of the federal CARES Act will be available to eligible fishing businesses through a grant program.
💻 Begin applying on Oct. 19: https://t.co/BqENyp0Kra pic.twitter.com/CgF078kvwl
Approximately $300 million was allocated to the fishing industry nationwide using the CARES Act. The allocation of money New Jersey will receive is the among the top ten highest amounts in the country.
Businesses can begin applying for the grants on Oct. 19 through the application located online. Applicants seeking funding will be required to show their five-year revenue history and proper tax identification.