Maine Nets $ 20M in Federal Bailout of U.S. Fishing Industry

Maine is in line to get $20.3 million to help its battered seafood industry weather the COVID-19 storm.

The award comes out of the $300 million in federal funding included in the CARES Act to help the U.S. fishing industry survive pandemic-related economic losses. Maine’s award was the fifth-highest out of 31 states, trailing only Alaska, Washington, Massachusetts and Florida.

It’s unclear how the funds will be split among the 18,000 licensed fishermen, seafood dealers, processors, aquaculture operators and charter fishing operators that make up Maine’s seafood industry, which nets an estimated $788.2 million a year in revenues. The sector has been especially hard-hit by the pandemic.

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