December 5, 2003

ROMNEY HONORS EASTERN FISHERIES WITH INNER CITY AWARD

NEW BEDFORD - Governor Mitt Romney today presented the Governor's Inner City Investment award to the CEO and founder of Eastern Fisheries, Roy Enoksen.

The Governor's Inner City Investment Award is presented monthly as part of Romney's "Jobs First" initiative. The award honors the dedication and hard work of men and women who contribute to the revitalization of the Commonwealth's cities through business investment and job creation.

"In addition to the company's growth and success over the last several years, Eastern Fisheries has distinguished itself through a consistent track record of community outreach and charitable giving," said Romney. "Eastern is a true hometown business, with roughly 80 percent of the company's employees living in the city of New Bedford."

Eastern Fisheries was started in 1978 with one scallop boat, employing a dozen people. It has grown steadily and now is the largest scallop company in the world, handling 17-18 million pounds of scallops a year.

Eastern Fisheries, along with its four affiliate companies, is a completely vertically integrated company, meaning Eastern Fisheries does it all - from fishing to getting the scallops to the consumer. Eastern Fisheries affiliate companies include Future Fisheries, Nordic Fisheries, Dockside Repairs and New Bedford Ice and Cold Storage.

Collectively, they catch the product with 14 fishing boats and then market and sell the scallops. Eastern and its four subsidiaries employ 250 people with nearly 99 percent of individuals living in the 10 communities that comprise the Greater New Bedford area. Eastern Fisheries alone employs 107 employees, of which 84 employees (78 percent) reside in New Bedford.

Eastern Fisheries most significant community contribution is to the New Bedford Child & Family Services and its annual fundraiser, the Scallop Project. This fundraiser involves the selling, packaging and shipping of fresh scallops anywhere in the United States as a holiday gift option that returns contributions to the nonprofit. Each year, Eastern Fisheries donates the scallops, packaging and the labor for 600-700 pounds of scallops, a more than a $5000 value.

"New Bedford is a nurturing city for home-grown companies like ours," said Roy Enoksen, CEO and founder of Eastern Fisheries. "The fact that we are now the world's largest processor of scallops is directly attributable to the support of this city, the hard work of our employees and the natural resources of this state. It goes to show that the cities of Massachusetts should not be overlooked as excellent places to succeed in business."

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