NAICS 114112 Quarterly Industry Report
Shellfish Fishing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 114112Sector: Agriculture, Forestry, Fishing and Hunting (11)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 114112 provides valuation-focused intelligence for professionals assessing commercial shellfish fishing businesses. Data is sourced from NOAA Fisheries[5] commercial landings statistics, U.S. Additional data is drawn from [Bureau of Labor Statistics[6].. Census Bureau](https://www.census.gov/) fishing industry data, and SBA size standards[7] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for shellfish harvesting enterprises.
Industry Definition & Overview
Shellfish Fishing (NAICS 114112) encompasses establishments primarily engaged in the commercial catching or taking of shellfish such as crabs, lobsters, shrimp, clams, oysters, mussels, and sea urchins from their natural habitats. This classification covers a diverse range of harvesting methods from offshore shrimp trawling and deep-sea crab pot fishing to inshore hand-harvest operations for clams and oysters in tidal areas. The U.S. Census Bureau[4] distinguishes wild-harvest shellfish fishing from shellfish farming operations (NAICS 112512), which cultivate shellfish in controlled aquaculture environments rather than harvesting from natural populations.
The U.S. shellfish industry generates billions of dollars in dockside revenue, with American lobster, Dungeness and king crab, Gulf shrimp, and Atlantic sea scallops representing the highest-value commercial fisheries. NOAA Fisheries[5] manages federal shellfish resources through regional fishery management councils that set harvest quotas, season dates, and gear specifications. Import competition from farmed shrimp produced in Southeast Asia and Latin America has reshaped domestic shrimp market dynamics, while lobster and crab fisheries maintain premium pricing driven by strong consumer demand and limited wild harvest supply.
Business valuations for shellfish fishing enterprises require evaluation of species-specific fishing permits and trap or pot allocations, vessel and gear fleet condition, historical landings performance, and established buyer relationships with processors and live-market distributors. Appraisers must assess the transferability of fishing licenses under state and federal regulatory frameworks, seasonal revenue concentration patterns, and the condition of specialized harvesting equipment including trap inventories, dredge gear, and onboard holding systems. The NOAA Fisheries[5] annual fisheries economics report and state marine resources agencies provide landings and pricing data used in income-based valuation models.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for commercial shellfish fishing operations
- Revenue and profitability analysis across crab, lobster, shrimp, scallop, clam, and oyster harvesting segments
- SBA size standard classification and lending threshold data for NAICS 114112
- Comparable transaction data from recent shellfish vessel sales, permit transfers, and trap allocation transactions
- Regional market analysis covering New England lobster, Alaska crab, Gulf shrimp, and Atlantic scallop fisheries
- Workforce and crew share cost benchmarking for captains, sternmen, deckhands, and shore-based processing staff
- Industry risk assessment including quota reductions, import competition, ocean warming impacts, and fuel cost exposure
- Regulatory compliance overview covering federal and state shellfish permits, seasonal closures, and gear marking requirements
- Capital expenditure profiles for fishing vessels, trap and pot inventories, dredge gear, and onboard refrigeration systems
- Production metrics including landings per trap haul, revenue per trip, catch per unit effort, and dockside price trends by species
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Agriculture, Forestry, Fishing and Hunting | 11 |
| Subsector | Fishing, Hunting and Trapping | 114 |
| Industry Group | Fishing | 1141 |
| NAICS Industry | Fishing | 11411 |
| National Industry | Shellfish Fishing | 114112 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 114111 | Finfish Fishing | Finfish fishing operations that share vessel infrastructure, port facilities, and seasonal fishing patterns with shellfish harvesters in multi-species fishing communities |
| 311710 | Seafood Product Preparation and Packaging | Seafood product preparation and packaging establishments that purchase shellfish landings from commercial fishing vessels for processing into fresh, frozen, and canned products |
| 112512 | Shellfish Farming | Shellfish farming operations cultivating oysters, clams, and mussels in controlled aquaculture settings that compete with wild-harvest shellfish in wholesale markets |
| 424460 | Fish and Seafood Merchant Wholesalers | Fish and seafood merchant wholesalers purchasing dockside shellfish landings for distribution to restaurants, retailers, and institutional foodservice accounts nationwide |
| 336612 | Boat Building | Boat building manufacturers constructing and outfitting commercial shellfish harvesting vessels including crabbers, shrimp trawlers, and lobster boats for fishing fleets |
| 339920 | Sporting and Athletic Goods Manufacturing | Sporting and athletic goods manufacturing operations producing commercial fishing traps, pots, nets, and specialized shellfish harvesting gear for fishing vessels |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Maine | 44.6% | 426 |
| 2 | Washington | 10.0% | 96 |
| 3 | Alaska | 7.5% | 72 |
| 4 | Texas | 7.4% | 71 |
| 5 | Florida | 6.2% | 59 |
| 6 | Massachusetts | 4.7% | 45 |
| 7 | Louisiana | 3.7% | 35 |
| 8 | California | 2.9% | 28 |
| 9 | Virginia | 2.8% | 27 |
| 10 | New Jersey | 2.6% | 25 |
% Of Establishments
0%
45%
Source: County Business Patterns, U.S. Census Bureau[2]
SBA Lending Summary
96
Total SBA Loans
$17.8M
Total Loan Volume
$186K
Average Loan Size
9 yrs
Average Loan Term
9.02%
Average Interest Rate
392
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[3]
Key Insight: The SBA[8] classifies Shellfish Fishing (NAICS 114112) with a size standard of $25.0 million in average annual receipts. Most shellfish fishing operations are family-owned or owner-operated vessel businesses that qualify for SBA-backed lending[9], government contracting preferences, and federal fishery disaster assistance programs administered through NOAA Fisheries[5]. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Harborstone CU | 16 | $6.5M | $404K |
| 2 | Maine Community Bank | 16 | $3.2M | $201K |
| 3 | TD Bank, National Association | 16 | $2.6M | $161K |
| 4 | Franklin Savings Bank | 8 | $2.5M | $309K |
| 5 | Manufacturers and Traders Trust Company | 16 | $2.0M | $127K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for shellfish fishing?
Commercial Shellfish Fishing is classified under NAICS code 114112, covering establishments engaged in the commercial catching or taking of shellfish from natural habitats per the U.S. Census Bureau[4] industry classification system.
What is the SBA size standard for shellfish fishing?
The SBA[8] sets the size standard for NAICS 114112 at $25.0 million in average annual receipts, qualifying eligible shellfish fishing operations for small business lending programs and government contracting preferences.
What shellfish species generate the most commercial revenue?
American lobster, Dungeness and king crab, Gulf shrimp, and Atlantic sea scallops rank among the highest-value commercial shellfish fisheries per NOAA Fisheries[5] annual landings statistics and dockside revenue reporting data.
How are shellfish fishing businesses valued?
Valuations account for fishing permits and trap allocations, vessel condition and replacement cost, gear inventories, historical landings performance, buyer relationships, and seasonal revenue patterns per NOAA Fisheries[5] fishery economics data.
What permits are required for shellfish fishing?
Federal permits from NOAA Fisheries[5] are required for offshore species, while state marine resources agencies issue permits for inshore shellfish, with many fisheries operating under limited-entry systems that restrict new participants.
How does import competition affect domestic shellfish fishing?
Farmed shrimp imports from Southeast Asia and Latin America have pressured domestic Gulf shrimp prices, while lobster and crab fisheries maintain premium pricing due to limited wild-harvest supply and strong consumer preference for domestic products.
What risks affect shellfish fishing operations?
Major risks include ocean temperature changes affecting species distribution, regulatory quota reductions, fuel and bait cost volatility, vessel insurance expenses, seasonal revenue concentration, and competition from shellfish aquaculture operations.
What regions are major shellfish fishing centers?
Maine and New England lead in lobster, Alaska dominates crab fisheries, the Gulf Coast leads shrimp harvest, and the Mid-Atlantic produces most sea scallops per NOAA Fisheries[5] regional landings data and fishery performance reports.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, County Business Patterns census.gov
- [3]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [4]U.S. Census Bureau census.gov
- [5]NOAA Fisheries fisheries.noaa.gov
- [6]U.S. Additional data is drawn from [Bureau of Labor Statistics bls.gov
- [7]SBA size standards sba.gov
- [8]SBA sba.gov
- [9]SBA-backed lending sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
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