New report highlights importance of Alaskan seafood industry. The Alaska Seafood Marketing Group (ASMI) recently contracted with McDowell Group to assess the economic value of Alaska’s commercial seafood industry, with the just published report, highlighting its huge importance/
The report provides figures on employment, labour income, seafood value, exports, taxes, and more.
Key Findings:
- The seafood industry directly employs nearly 60,000 workers in Alaska each year and is the economic foundation of many rural communities.
- The Alaska seafood industry employs over 16,300 resident fishermen, and 6,600 fishing vessels are resident-owned. Each fishing operation represents a business generating new income from a renewable resource.
- Alaska exports more than 2.2 billion pounds of seafood annually, returning over $3.2 billion of new money into the U.S. economy each year.
- The seafood industry provides economies of scale and economic activity which lowers the cost of utilities, shipping, fuel and local taxes for residents in many Alaska communities.
- An average of 68 newly-built fishing boats were added to the fleet annually over the 2013-2018 period, representing an average investment of more than $50 million per year.
About ASMI
The Alaska Seafood Marketing Institute is a marketing organization with the mission of increasing the economic value of the Alaska seafood resource through:
- Increasing the positive awareness of the Alaska Seafood brand;
- Collaborative marketing programs that align ASMI and industry marketing efforts for maximum impact within the food industry;
- Championing the sustainability of Alaska’s seafood harvests resulting from existing Alaska fisheries management imperatives. (State of Alaska Constitution and Magnuson-Stevens Fishery Management and Conservation Act and The Halibut Act);
- Proactive marketing planning to address short and long-term goals while remaining flexible and responsive to a changing environment and economy;
- Quality assurance, technical industry analysis, education, advocacy and research;
- Prudent, efficient fiscal management.
ASMI is a public-private partnership between the State of Alaska and the Alaska seafood industry established to foster economic development of a renewable natural resource. ASMI is playing a key role in the repositioning of Alaska’s seafood industry as a competitive market-driven food production industry. Its work to boost the value of Alaska’s seafood product portfolio is accomplished through partnerships with retail grocers, foodservice distributors, restaurant chains, foodservice operators, universities, culinary schools, and the media. It conducts consumer campaigns, public relations and advertising activities, and aligns with industry efforts for maximum effectiveness. ASMI also functions as a brand manager of the Alaska Seafood family of brands.