February 6, 1996
(Fisheries, Food and Agriculture)


The following is being distributed at the request of Newfoundland Aquaculture Industry Association:

NAIA responds to establishment of $20 million fund for aquaculture

The Newfoundland Aquaculture Industry Association responded today to Premier Brian Tobin's announcement of the establishment of a $20 million fund for aquaculture under the Economic Renewal Program.

According to the NAIA's executive director Marc Kielley: "Industry is extremely pleased with the news of this announcement. This is very positive and should provide a significant boost for aquaculture development. Mr. Kielley also pointed out: "Where this is a five year funding agreement industry is now in a position to prepare a long term strategic course of action to guide aquaculture development into the next decade. This program will enable the aquaculture industry to accelerate development by providing the much needed funding to address such critical success factors as infrastructure requirements, research and development, extension support services, human resource development and marketing.

"Aquaculture industry began a little more than 10 years ago and we are now beginning to see the fruits of the efforts by our aquaculture entrepreneurs. In 1995, over 70 commercially licensed aquaculture farms in the province produced an estimate 1,280 tonnes of salmon, steelhead trout, mussels, scallops and arctic char valued at more than $5 million. The future for the aquaculture industry is highly promising. The industry is now entering a growth phase where production is expected to rise dramatically over the next two to three years and well into the future. With this growth important new jobs will be created in many rural and coastal communities where limited opportunities exist. Additional new employment opportunities will also be created in the supply and service sector."

The Newfoundland Aquaculture Industry Association intends to work closely with government to target this funding where it will have a positive economic impact and will ensure a sustainable aquaculture industry in Newfoundland.

Contact: March Kielley, Executive Director, Newfoundland Aquaculture Industry Associatin, (709) 754-2854.

1996 02 06 4:40 p.m. /md

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