Funds are being allocated for dredging the harbor and renovating Gloucester State Pier to increase the number of berths and expand the harbor's capabilities. Capitalizing on the port's unique location and open-site facilities, other projects are under way to renew the fishing industry in Gloucester. Plans are moving forward to establish a permanent fish auction in the city. The Gloucester Herring Corporation, a collaborative private effort to develop the herring business in the region, has been launched with preliminary commitments from foreign companies to ship 50 million pounds of herring each year. The Corporation will serve as an economic stimulus to the region, resulting in new processing facilities and jobs throughout the city.
Additional plans call for establishment of a permanent fish auction.