Bill would help seafood industry ‘left out’ of major US grant programs
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Published 30 March 2026, 10:20
“It’s past time our fishing and mariculture industries can access the same financing opportunities as farmers in the heartland,” said one of the bill’s lead sponsors.
A new bill seeks to give commercial fishermen, seafood processors and other mariculture businesses access to federal loan and grant programs used by U.S. agricultural farmers.
Introduced by Sens. Angus King (I-Maine) and Lisa Murkowski (R-Alaska), the American Seafood Competitiveness Act would expand the seafood industry’s access to U.S. Department of Agriculture (USDA) loans and grants, recognizing them as the “farmers of the sea.”
It would also expand federal Farm Credit eligibility to businesses providing services to fishermen and fish processors.
“Whether your crops have seeds or scales, America’s food producers are essential to our economy and food supply, so we should seek economic parity for the men and women who work in the seafood industry,” King said in a statement. “The American Seafood Competitiveness Act would help level the playing field and ensure our lobstermen and shellfish growers have access to the resources they need to grow and compete. That way, we can ensure the ‘Way Life Should Be’ for generations to come.”
Murkowski said that, in Alaska, agriculture “isn’t just cattle and livestock.” She said the businesses in her state that would benefit from the American Seafood Competitiveness Act include kelp farms in Douglas, oyster operations on Prince of Wales Island and salmon gillnetters in Bristol Bay.
“These uniquely Alaska enterprises have been left out of some of America’s agricultural landscape, yet they play a vital role in our food security across the state,” Murkowski said in a statement. “It’s past time our fishing and mariculture industries can access the same financing opportunities as farmers in the heartland.”
The act would do the following, according to a release from King’s office:
- amend the Consolidated Farm and Rural Development Act to include commercial fishing and fish processing as eligible agricultural activities under USDA programs;
- include wild-caught fish and shellfish as eligible agricultural products under USDA’s Local Agricultural Market Program and allow USDA to waive or reduce matching fund requirements, lowering barriers for small and rural operators;
- update USDA regulations to ensure seafood processors can access financing to acquire or upgrade processing facilities and address significant operating costs;
- expand eligibility for USDA farm ownership and operating loans to allow fishermen to purchase permits, acquire vessels, make capital improvements, and cover operating and maintenance costs;
- broaden Farm Credit eligibility to businesses that support fishermen and fish processors, providing access to lending from Farm Credit institutions similar to that available to farm-related businesses;
- and create additional financing options for coastal businesses and rural communities that rely on the seafood economy, in the same manner as those supported by traditional agriculture.
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