Island Institute is proud to announce a $1.4 million award from the Small Business Administration to support Maine's lobster industry and enhance the economic resilience of the coastal communities dependent on this vital fishery. This Congressionally Directed Spending request championed by U.S. Senators Susan Collins and Angus King will launch the Future of Fishing, a collaborative effort designed to expand economic opportunities for Maine’s coastal communities, building on Island Institute’s longstanding partnerships to advance a diversified, climate-forward marine economy in Maine.

“This funding is not just an investment in the lobster industry, it is an investment in the communities that have built their lives around these waters,” explained Kimberly A. Hamilton, Ph.D., President of Island Institute. “We are immensely grateful to Senators Collins and King for their unwavering support and recognition of the importance of Maine’s island and coastal communities. With this support, we can begin implementing transformative changes that promise a sustainable future for the coast.”

Maine’s fishing communities face historic challenges such as rapidly warming waters, more frequent and severe storms, costly regulatory changes, and rising business costs. These communities, and the men and women that work on the water, are the backbone of Maine’s seafood sector; a sector responsible for more than $3 billion in total economic output and more than 33,000 jobs statewide.

“Island Institute provides critical support to the hardworking men and women who make up Maine’s iconic lobster industry, helping to ensure our coastal communities continue to thrive amid climate and economic challenges,” said Senator Collins, Vice Chair of the Appropriations Committee. “From Damariscotta to Eastport, this federal funding will support Island Institute’s efforts to promote business development and resiliency in communities along Maine’s coast.”

“The lobster industry is a cornerstone of Maine’s culture and identity, fueling livelihoods and the economy,” said Senator King. “The hardworking men and women who power the fishery are seeing firsthand the impacts of changes in weather and the water, so we have a responsibility to empower them through boosting collaborative efforts and information-sharing across the industry. This federal investment will help build a more sustainable industry and ensure Maine’s lobstermen have the resources and partners they need to strengthen their businesses. When we invest in the lobster fishery, we make an investment in the future of Maine for generations to come.”

Initiative Overview:

Led by Island Institute, this three-year project will create a network of statewide organizations that will develop and deploy assistance programs to businesses, communities, and individuals. This initiative will create new, and tailor existing, business and career training programs to the needs of rural fishing communities and families. These efforts include business management assistance and training, opportunities to explore diversified on-the-water income streams such as aquacultural farming, and assistance finding financial resources and educational opportunities for current and future generations.

Key projects include:

Business Resilience and Skills Development: Island Institute will collaborate with local business development organizations, financial institutions, chambers of commerce, and educational institutions to provide hands-on financial tools and entrepreneurship training to help small businesses understand their financial standing, manage risks, and seize emerging opportunities within and beyond the traditional lobstering industry.

Supporting Entrepreneurship and Diversifying Income: With nearly 3,000 lobstering licenses held within our target areas, the need for diversification has never been more critical. Island Institute’s initiatives will guide owner-operator lobstering families to explore and develop alternative business models and income sources, ensuring their resilience against economic pressures.

Strengthening Community Assets: Island Institute’s efforts will also extend to protecting working waterfronts and supporting the infrastructure, such as wharves, that are essential to sustaining Maine’s marine businesses. This support will include direct assistance to small businesses critical to maintaining the economic vitality and tax bases of these communities.

“Change is here, and fishermen and women are resourceful,” says Bob Baines, fisherman out of Spruce Head, and representative to the Maine Climate Council. “But it is not always easy for people along the coast to access the resources they need. The work Island Institute is doing with these partners will help people and businesses access critical business and career support as our coast grapples with these changes.” 

Partnerships for Lasting Impacts:

Island Institute remains committed to working closely with community leaders, industry experts, local stakeholders, and donors to ensure the success of this project. By fostering a collaborative environment, the Institute and its partners aim to create lasting impacts that will benefit Maine’s lobster industry and, most importantly, the families and communities whose livelihoods depend on it.

“This investment will create much needed capacity to help Maine's coastal businesses and communities adapt to a changing world,” says Charles Rudelitch, Executive Director of the Sunrise County Economic Council. “Island Institute is a valued partner, and we have learned a great deal from their pioneering approach to community development. We look forward to working closely as we both work to strengthen the working waterfront, fisheries, and seafood businesses that support thousands of families in Washington County.”

The $1.4 million in Congressionally Directed Spending will fund a three-year project with a total estimated cost of $3 million. Island Institute will continue to seek additional support from foundations, corporations, and individuals to fund its work in fishing-dependent communities.

For more information about this work please contact:

Sam Belknap
Director, Center for the Marine Economy
sbelknap@islandinstitute.org
(207) 744-8662

ABOUT ISLAND INSTITUTE

The Island Institute is a 40-year-old nonprofit organization, based in Rockland, Maine, that boldly navigates climate and economic change with island and coastal communities to expand opportunities and deliver solutions. For more information, visit islandinstitute.org.