The current Shipyard business “mission and model” relies almost entirely on an industry (fishing) that has many elements beyond our control – the fertile high-seas fishing grounds (internationally); the application of federal regulations upon our own EEZ (even at 50 nautical miles out of the Territory); the application of USCG regulations; the price of fish at the world market; and, the cost of living (plus the strong US dollar) in the Territory keeps rising.  Moreover, an industry relying on a resource (fish) that is politically volatile, highly regulated and shrinking in size. 

To not succumb to such challenges, the CEO and staff have begun the process of developing a new “business model” that reflects the extreme changes of our local business climate and its attendant challenges.   Based on the new plan and calculations, the Shipyard would need at a minimum of $12.5 Million to fully complete its restoration and improvement efforts.