Since the red grouper was declared overfished, the Gulf of Mexico Fishery Management Council must prepare a rebuilding plan considering the following alternative management policies: a Total Allowable Catch (TAC), 5-month season closure, 1800-pound trip limit, and a 50-fathom longline boundary. This study was aimed at evaluating the effects of proposed policies for rebuilding the red grouper stock in a 10-year period by developing a bioeconomic model. Under the assumption that the recreation sector was held to its share of TAC (24% of the total quota), the target stock biomass goal was attained in all policies. The NPV was the largest in the 5-month season closure policy if the output price did not fall. There were distributional effects on the different components of the fleets in the 1800-pound trip limit and the 50-fathom longline boundary policy.