State and Federal Financial Aid to Local Fishing Industry
Mon Oct 19 2020 04:00:00 GMT+0000 (Coordinated Universal Time)
Local Fishing Industry Financial Aid
FREEHOLDER DIRECTOR VICARI ANNOUNCES DETAILS OF STATE AND FEDERAL FINANCIAL AID TO THE LOCAL FISHING INDUSTRY
BOTH COMMERCIAL and recreational fishing businesses can now apply for a share of $11.2 million in financial aid to offset losses incurred during the ongoing COVID-19 pandemic, Ocean County Freeholder Joseph H. Vicari announced.
Online applications are immediately available on the state Department of Environmental Protection website at njdepsage.intelligrants.com.
More information can also be found on the Ocean County Government Webpage at www.co.ocean.nj.us. Click on the Coronavirus update box.
"The fishing industry is a vital link in Ocean County's economy and I encourage our businesses to apply for this important grant," Vicari said.
Administered by the state as part of a $300 million federal CARES Act grant, the money is available to a wide range of fishing-related industries.
Eligible businesses include commercial fisheries, aquaculture businesses, processors, dealers, and recreational fishery businesses, including for-hire businesses as well as bait and tackle shops.
To be eligible applicants must meet the following guidelines:
• Applicants must have experienced a greater than 35 percent loss in fishery-related revenues between March 1, 2020 through June 30, 2020, as compared to their 5-year average revenue for the same time period.
• Individual applicants must be New Jersey residents and business applicants must be located in New Jersey.
•Applicants must have been in business for at least one year prior to 2020.
• Applicants will be required to provide a total estimate of revenue for the full year of 2020 and provide information on all Covid-19 related financial assistance that they are receiving.
• Applicants must meet all mandatory licensing and permitting requirements for 2020.
"I want to thank Gov. Phil Murphy for making this money available to our fishing businesses," Vicari said. "From Tuckerton to Point Pleasant Beach our fishing community has a long and prosperous history in Ocean County."
Commercial and recreational fishing pump about $2.5 billion into the state's economy each year.
About 30 million pounds of fish are brought into Ocean County ports each year, with a worth of more than $46 million annually.
Since the pandemic began, fishing revenue in New Jersey is down about 35 percent, according to the DEP.
Applicants have 30 days to apply for a grant and the amounts awarded will be based in part on the total number of applications submitted.
Vicari advised qualified business and boat owners to get their applications in early.
"All qualified commercial and recreational fishing business owners should submit an application immediately," he said. "Please take advantage of this important program."