|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||3||$2,745,930|
St. Paul Island, AK - This local economy depends on crab and halibut fishing and seafood processing as the most important economic sector in the community. However, in recent times the decreasing allocation of the crab totals allowable for catch, on which its economy depends, has negatively impacted the local economy. Further, the fishing industry in the area is in need of a facility to service fishing vessels. Presently these services are conducted without the benefit of an enclosed facility which is an inefficient and risky way to manage the needs of businesses in the area.
In September 2017, EDA invested $1.5 million in Economic Adjustment Assistance funds to help create a vessel service, repair and marine supply store facility which will expand the commercial fisheries beyond locally caught seafood. The new facility will help diversify the local economy by enabling the commercial fishing fleet to expand to other types of marine species allowing for more exports and industry expansion.
The project is anticipated to create 73 jobs, retain 135 jobs and attract $22.65 million in private investment. As a result of the Aleut Community developing the marine service, repair and supply center, local fishermen are expanding their fishing businesses. The Aleut Community Tribal members are expanding their skills in marine repair such as welding and electronics and as a result, local retail sales have shown an early increase.