A bioeconomic model is developed for the selective harvesting of a single species, inshore-offshore fishery, assuming that the growth of the species is governed by the Gompertz law. The dynamical system governing the fishery is studied in depth; the local and global stability of its non-trivial steady state are examined. Existence of a bionomic equilibrium is established under different parametric considerations. The optimal harvest policy is discussed by invoking Pontryagin's Maximum Principle. Lastly, the results are illustrated with the help of a numerical example.