While hook and line vessels catch only 20% of the landed weight of Nova Scotia groundfish, they produce almost 40% of landed value. Increasing the viability of groundfish hook and line fleets will have a significant impact on the fishery’s contribution to rural employment in the province.
If quota was simply redirected from the dredge fleet, an operational scallop diver fishery in the province would generate at least $486,000 in Provincial GDP, increase local income by $330,000 and create 7 new jobs. However, if unused quota could be secured to meet the demand for diver caught scallops, over $2.5 million in GDP and $1.75 million of income would be generated along with 37 new jobs.
In 2012, distinguishing this fishery from trawlers generated $675,000 in increased revenues; local marketing efforts in 2013 showed that it is possible to increase revenues by over $1 million. Properly valuing this fishery will increase GDP by $840,000, increase local income by $575,000 and will create 12 new jobs in the fishery and other sectors.