February 5, 1996
(Executive Council)

Initiatives announced to develop and expand aquaculture in province

Premier Brian Tobin announced today a major initiative to develop and expand aquaculture in our province. This initiative was prepared by government and industry experts over the past eight months. Funding of $20 million will be provided under the Federal/Provincial Economic Renewal Program. Over the next four years, the federal government will provide $16 million and the province will provide $4 million. The $100 million Economic Renewal Program was announced last June; the aquaculture initiative is an allocation of funding under that program.

The initiative will support aquaculture planning, education in aquaculture technologies, research and development and extension services to aquaculture operators.

This new initiative in aquaculture will create a new industry and new jobs in our coastal communities to complement the fishery. A new department of Fisheries and Aquaculture will be created. The new department will work in partnership with aquaculture operators to develop the full potential of this important industry.

"This major initiative expresses the confidence that the provincial government has for the future of aquaculture in our province. With continued development this industry can expand rapidly. We will create new jobs and diversify the rural economy," said Premier Tobin.

There are five aquaculture businesses currently in operation in the Bay d'Espoir area. SCB Fisheries, Long Island Resources, Hardy Cove Farms, Bonne Bay Farms and the Conne River Indian Bay Council are leaders in the aquaculture industry in Newfoundland and Labrador. The scallop hatchery in Belloram is another example of important aquaculture development on the South Coast.

The premier pointed out that these businesses have done the pioneering work. "These operations are finding ways to overcome the challenges associated with development of a new industry. They are finding ways to increase production which will result in securing the new industry and a stronger future," said Premier Tobin.

Total production is expected to increase over the next four years from 1,200 tonnes to more than 9,000 tonnes. This increase will generate 850 new jobs of which 500 will be in direct production.

Contact: Cathy Coady, Premier's Office, (709) 729-3960 or (709) 682-3599.