May 16, 1996
(Fisheries and Aquaculture)

Aquaculture industry gets financial boost in provincial budget

The Department of Fisheries and Aquaculture is providing more than $3 million in its 1996-97 budget to develop the province's aquaculture industry.

"Expect to see many developments in our aquaculture industry over the next few years," says Fisheries and Aquaculture Minister John Efford. "This industry has enormous potential. Developing that potential will have considerable impact on the economy and job creation, particularly in rural areas."

Of the more than $3 million provided in this budget year, $2,396,000 is the funding under the aquaculture component of the federal-provincial Economic Renewal Agreement. An additional amount of about $820,000 is provided for aquaculture in the department's regular funding base.

Mr. Efford pointed out that when the federal financial contribution for the aquaculture component is factored in, the impact on aquaculture development will be even more significant.

Funding for the aquaculture component of the $100 million Economic Renewal Agreement is provided for initiatives in four principal areas: aquaculture planning, education in aquaculture technologies, research and development, and extension services to aquaculture operators.

Details of specific initiatives are being developed by the provincial and federal governments and will be announced when they are finalized.

Total aquaculture production in 1995 was 1,023 tonnes, having a value of $3.7 million. Species under commercial cultivation in the province include Atlantic salmon, steelhead trout, mussels, scallop and arctic charr. Research and development work has also been undertaken to determine the commercial potential of other species such as cod, yellowtail flounder, halibut, and wolffish.

Contact: Josephine Cheeseman, Director of Public Relations (709) 729-3733.