Mainebiz

W W W. M A I N E B I Z . B I Z 15 D E C E M B E R 1 4 , 2 0 1 5 High landings reflect robust growth of the resource, which has expanded dramatically since the late 1980s, particularly in eastern Maine in the last 10 years, due to favorable environmental conditions for growth along with effective conservation measures. "Current stock abundance is at all-time highs," says the Atlantic States Marine Fisheries Commission's 2015 lobster stock assessment, issued in September. e current fishing year is on track for high land- ings, too, says Patrice McCarron, executive director of the Maine Lobstermen's Association. Final figures, compiled by the DMR, await the end of the year. In tandem, landings have shifted eastward, with Washington, Hancock and Knox counties experiencing escalating numbers since 2007, says GMRI. According to DMR figures, midcoast Stonington and Vinalhaven were Maine's top ports in 2014, landing $60.22 million and $35.61 million worth of lobster respectively. In response to these developments, the industry has moved to find new or expand existing mar- kets, through initiatives funded by increased license surcharges. After hiring global public relations firm Weber Shandwick, the outcome was the launch early this year of a campaign to brand and promote Maine new-shell lobster as a particularly tasty commod- ity, to recruit and deploy a network of "star" chefs as ambassadors across an expanding slate of American cities, and to bring in lobstermen to tell the story of their trade, thus capitalizing on growing consumer demand to know where their food comes from. e industry is also working to expand the export market. In September, for example, Maine lobster received a big promotion when President Obama served it at a state dinner for Chinese President Xi Jinping. According to the MLA, the menu was highlighted in dozens of Chinese media articles and reached hundreds of millions of people. According to Jeff Bennett, a senior trade spe- cialist with the Maine International Trade Center, Maine exported $365 million worth of lobster in 2014. Of that, $349 million was shipped live, $16 million frozen, with $300 million of that going to Canada for processing; $40 million going to Asia (China $21 million, Korea $11 million, Hong Kong $8 million); and $10 million to Europe (United Kingdom $6 million, Italy $4 million). e potential is great to expand exports, due to large seafood con- sumption rates in other countries, Bennett says. "As large as the U.S. domestic market is, 95% of [seafood] consumers live outside of the United States," he says. "It's always advantageous to diversify your customer base. Maine lobster exports to China alone have tripled since 2012," to $21 million. "Our hope is to drive demand and awareness," says Matt Jacobson, executive director of the Maine Lobster Marketing Collaborative. A chunk of that is providing basic education. "A Chicago friend of mine has two restaurants and a cooking show on Univision. I said, 'Try Maine lobster.' He said, 'Sure, send me some.' We sent him some. He called and said, 'It came, but it's alive. What do I do with it?' You start to realize there a lot of chefs out there who don't know how to work with Maine lobster. We can educate them about the culinary piece and the sea-to-table story. And then, if we have more people asking for Maine new-shell VALUATIONS CUSTOM-FITTED Gain Insight with Valuation and Forensic Experts The issues are complicated. You need an expert who can bring clarity. Leveraging Northern New England's largest accounting and consulting fi rm. Dependable valuations. Defendable results. SHAREHOLDER DISPUTES ECONOMIC DAMAGES LOST PROFITS BUSINESS APPRAISAL BERRYDUNN.COM C O N T I N U E D O N F O L L OW I N G PA G E »

• Cover