Economic Impact of Commercial Fishing Harvested in the Minnesota Waters of Lake Superior REVISED

Abstract

This is a pro bono response from the BBER to a question from the commercial fishing sector asking that BBER provide some background on the economics and possible impact of commercial fishing activity in the Minnesota waters of the North Shore of Lake Superior. Without doing a full impact study and without the survey data needed to provide the optimal adjustments to the IMPLAN model, the BBER offers the following observations. Note: The original inputs to our model have been revised, subsequent to a discussion of modeling assumptions with stakeholders. The following revised economic impact summary presented here includes a short explanation of how assumptions for this model were derived, as well as the impact tables that follow.