Government of Canada Invests in Aquaculture Industry to Open New Markets

The Honourable Gail Shea, Minister of Fisheries and Oceans (DFO), announced that $4.7 million in funding will be made available this year for the Canadian aquaculture industry to help create jobs and stimulate growth in rural communities, reports www.megafishnet.com with reference to Fisheries and Oceans Canada.

"When our government invests in aquaculture, we are investing in a brighter future and stronger economy for Canada's rural and coastal communities," said Minister Shea. "Our government is supporting Canada's aquaculture industries growth to create and protect jobs and support the livelihoods of coastal Canadians."

One project in Newfoundland and Labrador is receiving funding from the Government of Canada through the Aquaculture Innovation and Market Access Program (AIMAP).  Newfoundland Aqua Services Ltd. received $400,000 for the development and evaluation of a land-based net washing technology.  This funding helped to leverage an additional $250,000 from other sources.  

Projects funded through AIMAP aim to offer growth opportunities for Canadian aquaculture operations.  In addition to the funds being announced today, two previous rounds of AIMAP funding totaling $9.4 million have been made available over the past two years to fund innovative aquaculture projects that contribute to the industry's growth, through sustainable production, increased diversification and/or green technology. 
 
AIMAP funding helps recipients plan, manage and complete aquaculture projects. This federal funding is also intended to leverage investments from a variety of public and private sector sources, promoting collaborative efforts in Canada's aquaculture industry and minimizing the duplication of effort.