Iqaluit (Apr 24/06) - More money and more jobs are coming to Nunavut.

The Director of Sealing and Fishing for the Department of Environment, Wayne Lynch, broke down just what the recent 2,500 tonne North Baffin turbot quota Ottawa handed to Nunavut means to Nunavut.

If every fish was caught with Nunavut boats, the revenue would be between $10 and $12 million annually, or roughly $4,500 per tonne, landed value, said Lynch.

"But we won't capture all of that because we don't have the infrastructure or boats to do so now," said Lynch.

A portion of the quota will be sold to fishing interests outside the territory for royalties. The royalty rate is between $500 and $550 per tonne.

Lynch estimates the fish will create between 15 and 30 new commercial fishing jobs on boats to be filled solely by Nunavummiut.

"We estimate the quota will bring between $2.5 million in direct jobs and landed income," said Lynch.

As the fishery progresses and the territory becomes better equipped to fish, both the turbot and shrimp quota Nunavut has control of will be worth that much more, he said.

Ottawa's decision to give Nunavut sole control over the quota, rather than to southern fishing interests "puts us on the map," he said.

"We're not dabbling any more. We're in the fishery now."

Nunavut has 67 per cent of all the turbot quota adjacent to the territory. Before the decision, it had 62 per cent.