Millions more for Newfoundland aquaculture
With its coffers buoyed by the income from offshore oil, the province of Newfoundland and Labrador has moved from a have-not part of Canada to one whose GDP has seen the growth of 200% since 1997 (when oil production started) to a 2010 total of CAD$ 58,214 by 2010 (~€44,300) per capita. The province has shown a surplus in six of the past eight years, topping CAD776.5 million (~€591 million) for the 2011-12 fiscal year. The net provincial debt has been reduced by some CAD$ 4 billion since its peak.
And some of the surplus has been used to support the expansion of the aquaculture industry, especially the farmed salmon sector. Confirmation of this support came in different forms last week, with a reminder from the Department of Fisheries and Aquaculture that the province has- since the introduction of the Aquaculture Capital Equity Investment Program in 2006- invested approximately CAD$24 million (~€18.3 million), with a 2012 allocation towards the improvement of wharves for the aquaculture industry of CAD$6.5 million (~€4.95 million). These investments have allegedly leveraged another over CAD$ 400 million (~€304.4 million) from the private sector.
Last week also saw the announcement that the Gray Aqua Group Limited has received $5 million, through the Provincial Government’s Aquaculture Capital Equity Program, to expand its salmon farming business on the south coast of Newfoundland and Labrador. A Departmental release stated- among else- that “Aquaculture development continues to drive the economy of the south coast of Newfoundland,” said Minister Dalley. “We are pleased today to once again partner with Gray Aqua Group to expand this vital industry. In turn, our investment will provide more employment opportunities and income for the region, as well as other socio-economic benefits.” This expansion will enable the company to grow from an initial annual production of 4,000 metric tonnes to 16,000 metric tonnes by 2018, increasing employment from 42 to 96 full-time positions. The new funding will be used for the purchase of capital assets associated with the expansion of farming activities, including site set up and farming equipment, such as boats, motors, cages, and moorings.
“The aquaculture industry has provided enormous benefit to the people and communities in the region,” said Tracey Perry, MHA for Fortune Bay - Cape La Hune. “I am pleased to have the opportunity to join Minister Dalley and Tim Gray (President of Gray Aqua Group) in making this announcement today, and anticipate that the expansion of the Gray Aqua Group will undoubtedly be welcomed with open arms by all stakeholders in the region who will benefit for the increased growing activity and salmon processing. This is indeed great news for Newfoundland and Labrador and the aquaculture industry as a whole.” This expansion will enable the company to grow from an initial annual production of 4,000 metric tonnes to 16,000 metric tonnes by 2018, increasing employment from 42 to 96 full-time positions.
Also last week, an announcement came that through CAD$1 million (~€760,000) in Provincial Government funding, the existing aquaculture wharf in the community of Pool’s Cove will be expanded to accommodate larger vessels and address the needs of a growing aquaculture industry on the south coast of Newfoundland. “It is imperative that wharf infrastructure effectively addresses the needs of the aquaculture industry,” said the Honourable Derrick Dalley, Minister of Fisheries and Aquaculture. “The growth of the industry in the region and the need to increase efficiency has resulted in the use of large vessels that deliver bulk feed for farming efforts. These vessels were too large to dock at the wharf, necessitating an extension. Our government is pleased to support this project and the ongoing development of aquaculture for the benefit of Newfoundland and Labrador.”
“The commitment of the Provincial Government continues to grow with the growing demand of the aquaculture industry,” said Tracey Perry, MHA for Fortune Bay – Cape La Hune. “While the existing wharf has served the region very well, the time has come for an expansion to address the growing needs of the industry. I am thoroughly pleased by our government’s commitment to this community and to the many companies that are providing so much benefit to the people of the south coast and the entire province. Aquaculture is breathing new life into some of these rural communities, and by investing in enhanced infrastructure we are securing this industry for the future.”
Jennifer Caines, Director with the Newfoundland Aquaculture Industry Association said; “The industry has a great working relationship with the Provincial Government and we are pleased that the request to expand this vital wharf was approved. We can obviously count on this government to support us in providing opportunities and hope for the communities in which we operate. Today is yet another example of the cooperation we have come to depend on and enjoy.”
