Nine US states are looking to establish a regional fund administrator to provide compensation for fisheries for economic losses from offshore wind development off the Atlantic Coast.
The states are Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Maryland, and Virginia.
Together, they have released a Request for Information (RFI) looking to receive feedback from the fishing industry, offshore wind developers, corporate and financial management entities, as well as interested members of the public.
The RFI aims to determine how to best establish a single regional administrator for the Atlantic Coast to collect, hold, determine eligibility, and dispense funds for economic losses to affected fishing industry members.
This aims to inform efforts to establish the mitigation fund administrator. Comments are due by 31 January 2023.