“I’m super excited that we were able to move the $1.5 million that was provided to us to invest in new entrants,” said Linda Behnken, executive director of the Sitka-based Alaska Sustainable Fisheries Trust which worked for a decade in partnership with conservation and finance experts to craft the fund. “Some are deckhands, and some are vessel owners. I’m just really pleased at how this has gone for this first tranche of funding.”

“The cost and risk involved in accessing Alaska’s quota share fisheries are comparable to purchasing a hotel as a first step in home ownership,” Behnken added. “As a result, the number of young rural residents entering the fisheries has dropped significantly over the past 15 years. Local Fish Fund lowers both the risk and the initial cost new entrants face.”