Minister announces funding for innovative aquaculture projects

Fisheries and Aquaculture Minister Trevor Taylor today announced $82,000 in funding under the province�s Aquaculture Innovation Program to assist seven companies involved in the farming of mussels and Atlantic salmon.

The Aquaculture Innovation Program is designed to improve the industry�s competitiveness and profitability by assisting companies in the technological improvement of finfish and farming methods.

�We know the aquaculture industry has great potential in this province. We are committed to assisting the industry develop the tools they need to be a major global supplier of farmed seafood products,� Minister Taylor said. �We have confidence in the economic and employment prospects of the industry. We need to help members of this industry develop their skills and knowledge to ensure that the industry grows to its full potential.�

The province�s Aquaculture Innovation Program provides a non-repayable grant towards the cost of an eligible project. The level of funding depends on the project. Companies are eligible for a non-repayable grant of up to 65 per cent for projects that involve innovative technologies or techniques new to the province�s industry. A grant of 50 per cent of eligible costs is available for projects that involve innovative technologies or techniques new to the proponent.

The projects approved this year are for 50 per cent of eligible costs, except for Badger Bay Mussel Farms of Notre Dame Bay, which received a total of $20,000 to make improvements to its harvesting barge and to purchase insulated harvesting tubs to increase operational efficiency and product quality. Badger Bay Mussel Farms operates a total of five blue mussel sites in the Green Bay region of Notre Dame Bay.

Nordland Aquaculture Limited of St. Alban�s, an Atlantic salmon aquaculture company, was granted $10,500 to purchase a live fish pump to be used in transporting smolt from the hatchery to the sea cage site, which will expedite transportation, reduce costs and minimize mortalities. The equipment will result in improved production in their operations.

Merasheen Island Mussel Farms of Arnold�s Cove received $4,800 to purchase a conveyor belt system, which will allow more efficient harvesting of mussel lines, as well as reducing labour, increasing harvest yields by reducing drop-off, and ultimately increasing the production capacity and profitability of the company's mussel aquaculture operations.

Other grants include:

• B&D Farms Ltd., Triton - $9,000;
• 10759 Newfoundland Inc., La Scie - $10,610;
• LBA Enterprises Ltd., Little Bay - $16,990;
• B&B Farms, Robert�s Arm - $10,000.

A priority of the provincial government is economic growth and job creation, particularly in rural areas. This funding is directed at the primary aquaculture species that are seen to have the best economic opportunity in the province at this time.

Media contact: Tracy Barron, Communications (709) 729-3733, 690-6157

2005 10 24                          9:40 a.m.