Governor Mike Dunleavy released his proposed budget for fiscal year 2026 at a press conference on Dec. 12, which would give the Alaska Seafood Marketing Institute $10 million spread out over three years. That’s after he vetoed similar funding included in last fiscal year’s budget.
The governor was asked if this was a reversal of his line-item veto of $10 million, which state lawmakers approved for ASMI last year. Dunleavy said that the FY2025 funding was only for one year, and he wanted to see a more detailed marketing plan on how the money would be spent.
“What was missing last year was a marketing plan and a marketing approach that utilized those resources to make sure we can get into new markets," he said. "So that’s the discussion we’re going to have in the Legislature, but it’s different from last year in terms of it being spread out over three years.”
ASMI Executive Director Jeremy Woodrow was excited by the governor’s announcement. He said if the funding goes through, the institute will have more certainty during a turbulent time for the seafood industry. Woodrow added that the majority of ASMI’s revenue is tied to statewide ex-vessel value, so if those prices are down, then so is the institute’s funding.
“The seafood industry has been through an incredibly tough time the last two years and we look forward to using these funds to help the seafood industry here in Alaska find opportunity in the U.S. market and return a greater value back to Alaska," Woodrow said.
According to the state’s description of ASMI’s marketing plan from the FY2025 supplemental budget, the institute will spend the three-year funding to, “capitalize on the Russian import ban and increase U.S. domestic sales of Alaska seafood by over $151 million,” and “increase Alaska seafood brand recognition of key species by 10%... with an emphasis on Alaska sockeye, pink, and keta salmon, as well as sablefish, pollock and surimi.”
But of course none of the money is finalized and the governor’s $14.2 billion capital and operating budget proposal is just that, a proposal.
The Alaska State Legislature begins its work on the budget in the next legislative session, which starts on Jan. 21. Dunleavy is expected to release an amended version of his budget on Feb. 19, the 30th day of the session.
