FOR RELEASE: $5m in New Federal Funds Strengthens ASMI’s Marketing and Value-Added Efforts
Contact:
Greg Smith, Alaska Seafood Marketing Institute
(907) 465-5562, [email protected]
FOR IMMEDIATE RELEASE
ASMI Receives Over $5 Million in Federal Funds and Grants to Expand Marketing, Utilization, and Value-Added Efforts
JUNEAU, Alaska. July 9, 2024 – The Alaska Seafood Marketing Institute (ASMI) is pleased to announce it has secured over $4 million in new federal Regional Agricultural Promotion Program (RAPP) funding and was recently awarded two $500,000 Saltonstall-Kenedy (S-K) grants. ASMI will use the RAPP funds to diversify and improve overseas markets for Alaska seafood, while the S-K grants are to be used to develop and market an Alaska Seafood pet food brand and increase the utilization and value of Alaska seafood through side-stream production, re-shoring of value-added processing, and neutral storage facilities. These efforts support ASMI’s mission to increase the economic value of the Alaska seafood resource.
The additional funds and grants are extremely welcome as the Alaska seafood industry seeks to emerge from the current global market collapse that has put incredible financial pressure on Alaska fishermen, fishing families, processors, and seafood businesses. ASMI thanks the U.S. Department of Agriculture (USDA), the Foreign Agriculture Service (FAS), USDA Secretary Vilsack, the Alaska congressional delegation and others in Congress, as well as agency and congressional staff for their tireless efforts to quickly create and execute the RAPP program.
“The timing of the RAPP funds is well-aligned with the Alaska seafood industry’s needs to combat numerous global economic pressures. While these funds will help ASMI grow our international efforts, they will also allow us to shift our other limited fund sources toward the U.S. market, where consumer demand for seafood has fallen dramatically and is sorely in need of marketing support.” said ASMI Executive Director Jeremy Woodrow.
RAPP funds are intended to foster expanded exports and market diversification by encouraging the development, maintenance, and expansion of diverse commercial export markets for American agricultural commodities and products. Some expected uses of the funds include expanding trade, foodservice, consumer, and other promotions in Southeast Asia, Latin America and the Middle East/ North Africa (MENA) region and executing a feasibility study to examine Alaska Seafood export potential to India.
RAPP funding will also allow ASMI to supplement its efforts in Japan, the UK, and parts of Eastern Europe.
The Saltonstall-Kennedy grants are part of a competitive grant program run by National Oceanic and Atmospheric Administration (NOAA) Fisheries to address marketing and research needs. Each project can be awarded up to $500,000 and must demonstrate direct benefits to U.S. fisheries and meaningful participation of fishing communities. ASMI was awarded two of these grants, each to the maximum level allowable.
The first grant is aimed at facilitating greater participation by the Alaska seafood sector in the pet food market. In 2022, the ASMI Board of Directors identified the strong potential for Alaska seafood products in this market. While U.S. pet food manufacturers purchased $893 million in fisheries products for use in cat and dog food in 2022, total agricultural products purchased by the sector were $6.9 billion. This grant award will allow ASMI to create resources for the Alaska seafood industry to target the valuable pet food sector.
For the second project, ASMI and numerous partners will collaborate to capture the current value-added products being made in Alaska and compare them with successful products developed in Iceland to determine which could be applied to Alaska seafood processes and species, as well as the reshoring of some processing to the US. Existing reports and information are insufficient for most industry members to determine what products they could produce, what challenges (and relevant solutions) may exist, and how best to implement them.
“I am incredibly appreciative of the hard work and dedication of ASMI staff and our industry partners to apply for, and receive, grant funds from the Saltonstall-Kennedy program – this is a very competitive program. The $500,000 grants will allow ASMI to create and develop new marketing materials and resources that will add value and new business opportunities throughout the Alaska seafood industry,” said Executive Director Jeremy Woodrow.
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About the Alaska Seafood Marketing Institute:
The Alaska Seafood Marketing Institute (ASMI) is a partnership between the State of Alaska and the Alaska seafood industry promoting the benefits of wild and sustainable Alaska seafood and offering seafood industry education. The seafood industry is Alaska’s largest basic private sector employer with nearly 60% of all wild seafood and 90-95% of wild salmon harvested in the U.S. coming from Alaska. In addition to wild salmon, Alaska is known for its crab and whitefish varieties such as Pacific cod, sablefish, halibut, Alaska pollock, sole and rockfish – available fresh or frozen year-round. Alaska has been dedicated to sustainable seafood for more than 50 years and is the only state with a constitution that mandates all seafood be managed under the sustained yield principle. Alaska has taken a leadership role in setting the global standard for precautionary resource management to protect fisheries and surrounding habitats for future generations and leading to an ever-replenishing supply of wild seafood for markets worldwide.
