St. John’s, Nfld. – Companies in the aquaculture industry in Newfoundland and Labrador are getting a piece of a $4 million federal government investment.
The federal government, which announced the investment last week, says the investment will help support new development and jobs in the aquaculture industry.
The $4 million is coming from Fisheries and Oceans Canada’s Aquaculture Innovation and Market Access Program ($708,500) and the Atlantic Canada Opportunities Agency’s Business Development Program ($3.3 million).
“The aquaculture industry is a major economic driver in Newfoundland and Labrador, and our investments will help these companies realize the great potential of this important industry,” says Senator Elizabeth Marshall.
The companies that received the investment, reports The Telegram.com, include:
Allen’s Fisheries Ltd.: $596,000
• $96,000 to increase vacuum packaging efficiencies in blue mussel processing through the Aquaculture Innovation and Market Access Program.
• $500,000 in repayable assistance from ACOA to improve productivity, efficiency and quality of its blue mussel operation in Benoit’s Cove.
Newfoundland Aqua Services Ltd.: $595,500
• $112,500 to purchase and install innovative equipment to improve efficiency and environmental performance in the cleaning of nets to prevent marine growth through the Aquaculture Innovation and Market Access Program.
• $483,000 in repayable assistance from ACOA to acquire technology components required for a land-based, net-washing pilot project designed to improve biosecurity and environmental protection measures in the local industry.
Northern Harvest group of companies: $2.3 million
• $500,000 to Northern Harvest Smolt Ltd. to develop an innovative biosecure recirculation facility for the production of high quality smolt through the Aquaculture Innovation and Market Access Program.
• $1.8 million in repayable assistance to the Northern Harvest group of companies through the Business Development Program to expand its Atlantic salmon farming operation in Bay d’Espoir, to establish new sites in Rencontre East, and to acquire equipment for its Atlantic salmon hatchery in Stephenville.
Gray Aqua Group: $500,000
• All for expansion of salmon farming operation in the Bay d’Espoir area.
Notre Dame Bay Mussel Farms Inc.: $50,000
• All to hire marketing manager who will develop a focused strategy designed to increase awareness and help the company become more competitive.