‎Entrepreneur’s Lobster Processing Plant

Lewiston Sun Journal:

The first shipment from Sea Hag Seafood left the plant Tuesday.

For 23-year-old owner Kyle Murdock, the opening of the lobster processing plant was the culmination of nearly two years of planning and hard work.

Murdock, a Monhegan Island native, attended Worcester Polytechnic Institute in Worcester, Mass., majoring in physics with a minor in differential math. He was planning on entering the Navy to focus on nuclear propulsion.

While at college, however, Murdock was concerned about the fate of the lobster industry, which was worth $335 million to Maine harvesters last year. Since the Great Recession began in 2007, the price paid to harvesters has declined. The price paid to lobstermen plummeted further this summer. Prices fell in early July to $2.60 per pound. Earlier this year, some lobstermen stayed ashore in hopes of reducing the supply and increasing prices.

Featured Opportunities

Related Stories