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October 20, 1999
(Development and Rural Renewal)


Funding approved for mussel growers

George Baker, Minister of Veteran Affairs and Secretary of State for the Atlantic Canada Opportunities Agency and Beaton Tulk, Minister of Development and Rural Renewal, today announced total funding of $331,385 for five shellfish aquaculture projects in the province. The funding is awarded under the Aquaculture Working Capital Fund (AWCF) that was established in June 1998 from the Aquaculture Component of the Canada/Newfoundland Agreement on Economic Renewal and the Strategic Regional Diversification COOPERATION Agreement.

The mussel growers awarded the funding include: Merasheen Island Mussel Farm, Placentia Bay; Blue Water Farms Inc., Connaigre Peninsula; Sunrise Fish Farms, Pilley's Tickle, Notre Dame Bay; Connaigre Fish Farms, Hermitage; and Miller's Passage Inc., Great Bay L'Eau. Loans will be used for operating costs which will help the farms to expand and achieve production levels that are needed for long-term viability.

Mr. Baker said the federal government is committed to the future development of the aquaculture industry. "This growing industry is part of the diversification of rural communities, especially coastal communities in Newfoundland and Labrador. This funding will assist the mussel operations in reaching full commercialization and provide the much needed capital to become a viable player in this internationally competitive industry."

Mr. Tulk said, "By accessing funds through this program, the aquaculture industry can continue its role in creating new opportunities in rural Newfoundland and Labrador. We have faced many economic challenges in the past, but we are responding to these challenges by creating a more diversified economy. The aquaculture sector has been an important component in this diversification process."

The AWCF, which is a joint initiative of the federal and provincial governments, is administered by the Department of Development and Rural Renewal and complements developmental financing currently available to the aquaculture sector through existing federal, provincial and commercial programs.

The Minister of Fisheries and Aquaculture, John Efford, stressed the important role the growing mussel sector is playing in developing the Newfoundland and Labrador aquaculture industry. "We are excited about the steady growth of our mussel sector, in fact, in 1999 we expect to double our mussel production to 2,000 tonnes. The Shellfish Aquaculture Working Capital Fund will assist in the continued expansion of this sector, which can contribute greatly to our economy, especially in rural areas that have been impacted by the downturn in the traditional groundfishery."

The AWCF was established to provide financial support to shellfish operations to assist them in establishing and expanding commercial operations; and to ensure the aquaculture industry reaches its potential for long-term viability in an internationally competitive industry.

Media contact:

Josephine Cheeseman
Department of Development and Rural Renewal
(709) 729-4570.

 

Ellen Alcock
Atlantic Canada Opportunities Agency
Tel: (709) 772-5116

Sonia B. Glover-Sullivan
Department of Fisheries and Aquaculture
Tel: (709) 729-3733

1999 10 20                                             3:30 p.m.


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