The legislature passed two bills today that will aid Alaska’s fishermen and seafood processors. Fisheries are the lifeblood of coastal Alaska and a major part of our state’s economy. Nearly 40 percent of fish harvested in the U.S. come from Alaska. This adds over $2 billion to our economy and provides over 50,000 jobs throughout the year. During my time in the legislature, I’ve worked with colleagues to address issues facing our seafood industry. The goal has been to help our fishermen and processors recover from increased competition from farmed salmon and years of low prices.
House Bill 20 provides energy relief for Alaska fishermen. The bill expands state loan programs for engine and energy efficiency upgrades to commercial fishing boats. This will allow fishermen to outfit their boats with new technology that will lower their operating costs.
House Bill 344 extends the Salmon Product Development Tax Credit. The credit allows processors to deduct up to 50% of the cost of some equipment from their annual Fisheries Business Taxes. These investments include fillet machines, pin-bone machines, smoking equipment, and ice machines. The credit aides the modernization of Alaska’s salmon industry, and has led to more value-added processing of salmon.
I’m hopeful these policies will continue the positive growth we’ve seen in our commercial fisheries, and help make Alaska Salmon more valuable on the world market.
Comments are closed