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Hawaii Fishing Industry Gets ‘Helicopter Money’

■ The Hawai‘i fishing industry is getting $4.3 million dollars in COVID-19 economic stimulus. This federal money is known as “helicopter money.” A term coined by Nobel Prize-winning economist Milton Friedman, “helicopter money” is considered a last resort stimulus during an economic collapse. Printing and giving out large sums of money is akin to a helicopter dropping $100 bills from the sky.

The U.S. Secretary of Commerce has $300 million in fisheries assistance funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This CARES money is given to state, tribe and territory marine fisheries affected by COVID–19.

The Division of Aquatic Resources (DAR) and the Department of Land and Natural Resources (DLNR) are drafting spending plans. The plans need to be approved by the National Oceanographic and Atmospheric Administration (NOAA).

“This is welcome relief for our struggling local fisheries,” Brian Neilson, DAR administrator, said in a press release. “Unfortunately, it will only cover a fraction of the economic losses caused by the COVID-19.”

Eligible fish businesses include commercial fishing operations, charters, aquaculture operations, processors and other fishery-related businesses.

For questions about eligibility for the fisheries money or the application, contact <dlnr.aquatics@hawaii.gov>.

Mandatory Fish Reporting Update

The Western Pacific Regional Fishery Management Council (the Council) released its “Report of the Main Hawaiian Island Small-Boat Pelagic Fisheries Public Scoping Session.” Attention fishermen: At play here is mandatory catch reporting for Hawai‘i’s noncommercial offshore