Four hurricanes over the course of two years has cost the Louisiana seafood industry almost $580 million in losses to infrastructure, revenue and resources.
A report released by Louisiana Sea Grant and the Louisiana Department of Wildlife and Fisheries documents extreme damage and loss of revenue over all five sectors of the industry: commercial fishermen, recreational fishing, docks, processors and marinas.
Dr. Rex Caffey of LSU Sea Grant led the team that compiled information for the “Infrastructure, Revenue and Resource Losses to Louisiana Fisheries From the Hurricanes of 2020 and 2021” report after a request by the Louisiana Fishing Community Recovery Coalition. The coalition is comprised of members from every aspect of the state’s seafood industry, as well as members of state and federal offices.
Total damage to fisheries infrastructure, estimated at $304.9 million, equates to a 22 percent reduction to the $1.36 billion in appraised value of infrastructure for the five sectors of the analysis. Revenue losses for 22 coastal parishes totaled $155.3 million.
Read more:
https://www.nationalfisherman.com/gulf-south-atlantic/report-hurricanes-cost-commercial-fishing-and-seafood-sectors-1-36-billion