N.C. Division Of Marine Fisheries’ Spending Plan For CARES Act Funding Approved

Sep 16, 2020

Federal assistance could soon help North Carolina’s commercial fishing industry bounce back from the economic effects of the Coronavirus Pandemic. The N.C. Division of Marine Fisheries announced that their spending plan for CARES Act relief has been approved by NOAA Fisheries. Now, the state awaits notification from the Atlantic States Marine Fisheries Commission that the $5.4 million dollars has been awarded.  The spending plan outlines the disbursement of funds through direct payments to eligible commercial fishermen, charter businesses, seafood dealers and processers, and qualified marine aquaculture operations.  According to a news release, applicants will be required to complete the application, an affidavit, and provide supporting materials that document loss of revenue greater than 35% from March 1 to May 31, 2020 as compared to the average revenue from the same period of the previous five-years (March 1 to May 31, 2015-2019). A 30-day application period will likely open in late fall.