1 ASSESSMENT OF THE IMPACTS OF KATRINA ON MISSISSIPPI COMMERCIAL AND RECREATIONAL FISHERIES

An economic assessment of the commercial harvesting sector, seafood processing and distribution sectors, charter boats for hire, livebait boats and dealer houses, marinas, support facilities, and recreational boats was undertaken in Mississippi to determine the level of damage sustained as a result of Hurricane Katrina. The devastation by this hurricane has created an urgent and compelling need to complete damage assessments in the affected areas in as short a period as possible. An accurate assessment of the damage created by this storm is needed to ensure that federal funds are both adequate and allocated to the appropriate sectors and recipients. The damage assessment included the following information about the boats/vessels, processing plants, dealer houses and support facilities: 1. Inventory of facilities that existed at each port or community; e.g., marinas, processing plants, fish houses, bait and gear shops, ice houses, recreational boats and other support facilities. 2. Original capital investment made in the facility or site. 3. Estimate of physical damage to a facility or site and the dollar value of that damage by community. 4. Estimate of the replacement cost of the capital needed to reestablish that facility or site as an operational entity. 5. The level of insurance presently existing for the entity, the capital debt remaining to be paid off, an