Posted by The New York Times on Tuesday, December 16, 2016 04:26:24The blue crab fishing industry is booming in Hudson River’s Hudson Valley.
But the fishermen are getting paid a lot more than they used to.
That’s the finding of a new report from the Center for Investigative Reporting that looked at more than 500,000 seafood orders, and found the industry is actually worth far more than what the federal government pays it.
The report says the industry has nearly doubled in size in just 10 years, and has more than doubled its revenue in less than five years.
It says the fishing industry now earns about $500,000 per day, a record for seafood, which is a record-setting number.
The industry is one of the top five most lucrative industries in the country, according to the report, and one of only three that make more than $100 million annually.
The fishing industry in the Hudson Valley has grown by an average of 13% per year for the past two decades.
And it is projected to grow by more than 15% annually by 2026, according the report.
The fish industry’s total revenue is projected at $1.6 billion by 2029, or roughly $4 billion per year.
The report notes the industry’s growth is due to higher fishing quotas and a growing number of recreational boats, and also because of the economic downturn in the fishing town of Chippewa Falls, where fishermen have been making more money.
The fish industry has been growing since the 1970s, and the fishery has grown to become one of America’s most profitable seafood industries.
The average annual income for the fishers in the industry was $70,000 in 2016, according and the industry reported that in 2020.
That means the fisheries annual income was $4.2 million.
The fishers are getting about $400,000 annually from that.