Md. Offering To Buy Back More Crabbing Licenses
ANNAPOLIS, Md. (AP) — Maryland natural resources officials say they want to buy back more crab licenses, and it might be worth waiting to see if the price goes up.
The Department of Natural Resources announced Wednesday that it is offering between $4,000 and $9,000 depending on the type of license. State officials say they are hoping to retire another 400 to 500 licenses. After buying licenses offered at base prices, the state could offer between $5,000 and $12,000 if it has money left.
Many of Maryland’s 6,000 crabbing licenses are not actively used and the state began buying back licenses in 2009 to make it easier to manage the crab population.
The first buyback retired about 700 limited licenses and about 650 inactive watermen hold licenses involved in the current program.
(Copyright 2011 by The Associated Press. All Rights Reserved.)