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Lobster Industry News

Lobsters to Dollars: Participate in the Colby College/MLDA Economic Impact Study

June 14, 2017

http://web.colby.edu/lobsters2dollars/

An Economic Analysis of the Lobster Distribution Supply Chain in Maine

Maine's iconic lobster industry is arguably the most visible, and likely the most economically important asset for the State. In 2016 more than 130 million pounds of Maine lobster were harvested, valued at over $547 million – the highest-ever value of the lobster fishery in Maine. However, there is little known about the economics of the industry after the product leaves the dock. Every dollar accounted for in the value of the fishery represents revenue paid by a licensed Maine lobster dealer. Yet never before has there been a study of the economic impact of the contributions of the wide variety of lobster dealers and processors that participate in the supply chain. These businesses provide the capital that pays the harvesters for bringing lobsters to shore. The lobster dealer network also accounts for substantial investments in handling, transporting, processing, marketing, shipping and selling this unique product that contributes so heavily to the Maine brand.

 

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