August 02, 2005
Tuesday

The State of Alaska, Division of Investments is disbursing about $3.3 million in Salmon Enhancement Tax proceeds to the six regional aquaculture associations authorized to receive the proceeds. This year's proceeds are about 15% more than last year when $2.9 million was disbursed.

The Salmon Enhancement Tax is collected by the Department of Revenue and disbursed by the Division of Investments to the regional aquaculture associations to fund hatchery operations. The program, first authorized by legislation in 1980, allows salmon limited entry permit holders in a region to impose a tax to fund the operation of association hatchery facilities. The six regions (Southern Southeast, Northern Southeast, Prince William Sound, Cook Inlet, Kodiak and Chignik) have authorized a tax of 2 or 3 percent.

Deputy Commissioner of Commerce, Community and Economic Development Al Clough said the increase in revenue speaks to the overall health of the industry. "Here's another indicator to prove that the salmon industry in Alaska is on the rebound," said Clough. "Differentiating wild Alaska salmon from the farmed variety, providing revitalization money to the industry and continuing the management of the successful programs like the Salmon Enhancement Tax all contribute to the industry's success."

Source of News:

Alaska Dept. of Commerce, Community and Economic Development
http://www.commerce.state.ak.us

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