Newfoundland and Labrador open for business

Tor-Eddie Fossbakk Canada: While attending Aqua Nor 2007 last week, Newfoundland and Labrador’s Minister of Fisheries and Aquaculture, Tom Rideout, had the opportunity to meet with a number of Norwegian investors and give them an overview of the Newfoundland and Labrador aquaculture industry, and the benefits associated with doing business in the province. Minister Rideout said, "The fact that our province is open for business when it comes to aquaculture was a major theme of all of my discussions in Norway." In a press release the Minister said "Our province was well represented at the show and it was a worthwhile activity for everyone. I am pleased to have led a provincial delegation and I am delighted that the department was able to support industry in its efforts to attend. Approximately 60 individuals from Atlantic Canada made the journey, 35 of which were from Newfoundland and Labrador. Many of the province’s most active participants were present at Aqua Nor, exchanging business ideas with colleagues and counterparts from around the world." The minister noted that the aquaculture industry's success in Newfoundland and Labrador is due to the enthusiasm and strategic decision-making of those who are involved in the industry. "Having attended Aqua Nor 2007, it is now more clear than ever to me that Newfoundland and Labrador can become a key and major player in the global aquaculture industry and compete with the world's leading jurisdictions within international markets," said Minister Rideout. "While our government and all those associated with our aquaculture sector have always been aware of the vast potential of this industry, the growth that it has experienced in recent years can only be fully appreciated when viewed against a global backdrop such as that provided at Aqua Nor. "When I first visited Norway for similar shows as Minister of Fisheries, 20 years ago, our industry was struggling to get off of the ground. It is now pleasantly apparent that our industry is catching up with the rest of the world," said the minister. He added that new industry programming, as well as strategic and unprecedented levels of investments by the current administration have also contributed to this new fast pace of growth. In Budget 2007, government announced: CAD 12.5 million allocated under the Aquaculture Capital Equity Investment Program; CAD 1.2 million toward the establishment of a new Aquatic Veterinary Diagnostic Facility in St. Alban’s in support of the aquaculture industry. The total cost of the building will be $4.3 million to be completed in 2008; CAD 500,000 for continued implementation of a Cod Aquaculture Demonstration Project; CAD 1.9 million for wastewater treatment equipment for the aquaculture industry; and CAD 180,000 in support of aquaculture industry support programs.