Some Canadian governments support aquaculture development more than others
Opinion
It is a frustrating situation for the fish farmers in British Columbia who only ask for the access to a miniscule portion of that province’s vast coastline for the generation of tens of millions of dollars in non-subsidized industry investment, while watching their industry companions in other Canadian provinces benefiting from a “how-can-we-help-you create-jobs” attitude. Applications for new salmon production sites have been circulating within the B.C./Fisheries and Oceans Canada bureaucracy for an unreasonably long time, while governments on the east coast of Canada are expressing their public support for the industry.
An example of this support was announced this morning:
Northern Harvest Sea Farms will receive $8.15 million(1 CAD$ ~€0.735) through the Provincial Government's Aquaculture Capital Equity Investment Program toward a $17.6 million expansion of its aquaculture operations in the Coast of Bays region on the province's south coast. "The aquaculture industry is helping to grow and diversify rural economies through direct and indirect jobs, and benefits to businesses. Our economic impacts study, released in January of this year, clearly indicates the increasingly important role aquaculture is having on our province's economy with respect to GDP contribution, employment and income. We look forward to seeing this industry continue to grow to meet the worldwide demand for healthy and sustainable seafood while providing jobs and economic benefits for our people and communities."
- The Honourable Vaughn Granter, Minister of Fisheries and Aquaculture
Funding provided to expand Northern Harvest Sea Farms' operations will go towards capital asset investments in grow-out technology including automatic feeding systems, nets, cages, underwater lighting, mooring and service vessels. These investments will increase the company's production of Atlantic Salmon which the company intends to process at the Harbour Breton and St. Alban's plants. "Aquaculture has transformed the fortunes of many rural communities in our province. There is visible new economic activity created by salmon operations particularly along the Coast of Bays. The increased production of Atlantic Salmon from this investment will lead to the reopening of the fish plant in Harbour Breton while maintaining employment at the plant in St. Alban's so today's announcement is wonderful news for the entire region."
-Tracey Perry, MHA, Fortune Bay-Cape La Hune
Budget 2015 provides $2.8 million toward the project. This is in addition to $2.4 million which was provided to the company in late March. The remaining funding will be provided over the next two fiscal years. Provincial Government investment will be in the form of an equity position in the company through preferred shares which will receive annual dividends until the project is complete and the Provincial Government investment is repaid. Repayment will take place over seven years beginning once the project is completed.
"This partnership with the Provincial Government will help us to further grow our operations in the Coast of Bays region with a continued focus on environmental sustainability and quality best practice. Through expanding our operations, we plan to increase our annual production of Atlantic salmon from 12,000 to 16,000 tonnes and increase employment from 145 to 180 jobs."
- Larry Ingalls, President, Northern Harvest Sea Farms
Budget 2015 allocates more than $10 million to support the province's seafood sector building on the more than $100 million that the Provincial Government has invested in programs and infrastructure to advance the sector since 2003.
