In 1992, NSEDC established a capital investment fund for the purpose of purchasing harvesting/tendering vessels for use in the Bering Sea and local fisheries. Proceeds generated from
CDQ pollock fishing were contributed to this fund. NSEDC renewed its commitment to purchasing ownership interest in vessels in subsequent CDPs and has allocated additional CDQ proceeds to the fund.
 In 1994, NSEDC purchased a freezer longliner, the F/V Norton Sound, in an LLC venture with Glacier Fish Company using money from this fund. Vessels like the Norton Sound have enabled NSEDC to directly participate in the offshore fisheries of the Bering Sea and Aleutian Islands.
In 1997, NSEDC used money from the harvesting/tendering vessel fund to contract for the construction of two custom-built tender vessels, the F/T Norton Bay and F/T Golovin Bay, for use by Norton Sound Seafood Products (NSSP) in the region.
In January 1998, NSEDC completed a transaction to purchase a 50% membership interest in Glacier Fish Company - NSEDC's pollock harvesting partner since 1992. GFC owns and operates two mid-water trawl harvesting/processing vessels, the F/V Northern Glacier and F/V Pacific Glacier. The purchase of this ownership interest allows NSEDC to directly harvest its allocation of CDQ pollock and Pacific cod, in addition to marketing of products from other CDQ allocations and fisheries from the region.
In 1998 NSEDC used money from the harvesting/tendering vessel fund to contract for construction of a custom-built refrigerated saltwater barge, the
F/T Besboro. This vessel is used to support buying and processing operations for local fisheries in the region.
This program continues to be an integral part of NSEDC's plans to harvest the CDQ allocations of species under the multi-species CDQ program and to participate in the near-shore and offshore fisheries of the Bering Sea. The Fund for Harvest Vessel Purchase is a significant component of NSEDC's Community Development Plan, and NSEDC will contribute additional CDQ proceeds to this capital investment fund.
Norton Sound Economic Development Corporation
420 L Street, Suite 310, Anchorage, AK 99501
Phone 1-907-274-2248, Fax 1-907-274-2249
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F/V Norton Sound |
F/T Norton Bay and F/T Golovin
Bay |
F/V Northern Glacier |
F/V Pacific Glacier
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F/V North Pacific |
F/V Glacier Bay |
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