Luncheon - Understanding the Economic Impact of the Northern Shrimp Fishery

Northern Shrimp is an important part of the Newfoundland and Labrador fishery and subsequently our provincial economy. It provides thousands of jobs in the year-round offshore and seasonal inshore sectors, and contributes more than $100 million to the provincial GDP. At a time when decisions concerning the provincial economy are critical, recent science demonstrates a decline in Northern Shrimp stocks, meaning reductions in quotas are necessary. This will impact individuals and businesses in Newfoundland and Labrador who directly and indirectly depend on the industry for their livelihood.

The policy which exists to govern how these reductions are applied, Last In-First Out, is under review by the federal government. Dr. Wade Locke has conducted an analysis of the issue, including existing reports analyzing the best way to manage reductions while optimizing the provincial economy. Join Dr. Locke and hear directly why a stronger Northern Shrimp fishery means a stronger Newfoundland and Labrador economy.