Vineyard Wind CEO Lars Pedersen offered New Bedford fishermen $10 million which includes a direct payout of about $200,000 a year over the next 30 years and an establishment of a $1 million trust for potential future costs.
The four dozen fishermen, scientists, and industry associations in the room weren’t happy with the offer. Ron Smolowitz, a technical consultant for the scallop industry, called it “insulting.” And Daniel Farnham, a New Bedford fishermen, said the proposal doesn’t truly reflect the economic value of the industry.
“It’s not just a person catching fish and selling it and taking that money home,” Farnham said. “We’re supporting ice houses, fuel barges, an entire community is based around this industry and then to be offered pennies on the dollar for it, that is what is infuriating to us.”
The state of Massachusetts is reviewing the proposal and is working with Vineyard Wind to make any adjustments.
