The Gulf of Mexico Reef Fish Shareholders’ Alliance launched the first Quota Bank in the Gulf of Mexico in 2015 to reduce red snapper discards in the eastern Gulf and to support the next generation of commercial red snapper fishermen. 2018 will mark our fourth year of operation. Here’s how it works:
The Quota Bank leases red snapper allocation to the following two groups of fishermen:
- Eligible grouper fishermen that need red snapper allocation to cover some of their discards
- Eligible “next generation” red snapper fishermen that are entering the fishery.
- In exchange for leasing this allocation, Members agree to hold themselves to a high standard of accountability and participate in program requirements including electronic reporting, Best Business Practices, participation in regulatory meetings, and joining the Shareholders’ Alliance.
The Quota Bank is the only program of its kind in the Gulf of Mexico that is generating triple-bottom-line benefits for your fishery by:
- reducing red snapper discards,
- making fishing businesses more profitable,
- supporting the next generation of fishermen, and
- getting more fishermen involved in solving their management and regulatory problems.
For more information on the Quota Bank, check out these links:
- The official Quota Bank announcement to the Gulf of Mexico Fishery Management Council.
- A handbook of quota banking programs throughout the United States (see the Reef Fish Quota Bank highlighted on page 7).
- A press release celebrating the Quota Bank’s receipt of the U.S. EPA “Gulf Guardian” Award in November 2017.