An empirically estimated fleet dynamics model for New England trawlers is integrated with spatial, age-structured models of primary groundfish species on Georges Banks, southern New England, and the Gulf of Maine. This bioeconomic model is used to explore how permanent marine sanctuaries on Georges Bank might affect catches, revenues, and spawning stock of principal groundfish species in New England. The simulations explore how the location of sanctuaries relative to major ports and their orientation relative to seasonal movement patterns of fish stocks impact their effectiveness and the distribution of benefits across groups of fishers from different ports. The simulation results also demonstrate that the impacts of sanctuaries can vary greatly across species, sometimes increasing yields for some while decreasing yields for others. While the specific results from the simulations reflect the characteristics of the New England groundfish fishery, the modeling methodology and some general conclusions are applicable to other fisheries.