Government of Nova Scotia gov.ns.ca
gov.ns.ca Government of Nova Scotia Nova Scotia, Canada
 
Economic and Rural Development

News Releases

Province Further Supports Aquaculture Development

November 27, 2008

Nova Scotia's aquaculture sector will get a major financial boost to support development, improve the climate for investment and increase competitiveness, the province announced today, Nov. 27.

In partnership with the Department of Economic Development, the Department of Fisheries and Aquaculture will invest $2.5 million in the aquaculture sector over the next three years. The funds will be provided through the Community Development Trust Fund, which was established to help communities and workers hard hit by economic challenges.

"Aquaculture has tremendous growth potential in Nova Scotia," said Fisheries and Aquaculture Minister Ron Chisholm. "The province is well positioned to seize this opportunity because of its natural marine assets, educated workforce, and generations of fisheries experience."

The department will use the funding to identify sites and areas of the coast with potential for aquaculture development. It will also help expand the industry through innovative projects and create an opportunity to access federal funding through cost-shared aquaculture development.

"This investment will create opportunities and jobs in rural coastal communities throughout the province by improving Nova Scotia's ability to compete in this expanding industry," said Economic Development Minister Angus MacIsaac. "With $53 million in farm gate sales last year, aquaculture has become a significant and sustainable resource based industry for Nova Scotia."

Aquaculture produces nearly half the world's seafood consumed by people. Global demand for fish will reach 150 million tonnes by 2030 and Nova Scotia's aquaculture industry will play a growing role in meeting that demand, with a potential to double sales in the next few years.

For more information visit www.gov.ns.ca/fish/aquaculture/cdt .

For more information on the Community Development Trust in Nova Scotia visit www.gov.ns.ca/econ/cdtrust .


FOR BROADCAST USE:

The Department of Economic Development and the Department of

Fisheries and Aquaculture will invest $2.5 million in the

aquaculture sector over the next three years. The funds will be

provided through the Community Development Trust Fund

The department will use the funding to identify sites and

areas of the coast with potential for aquaculture development. It

will also help expand the industry through innovative projects

and create an opportunity to access federal funding through cost-

shared aquaculture development.

Fisheries and Aquaculture Minister Ron Chisholm says the

province is well positioned to seize this opportunity because of

its natural marine assets, educated workforce, and generations of

fisheries experience.

-30-

Media Contacts: Celeste Sulliman
Fisheries and Aquaculture
902-424-0192
E-mail: sullimcc@gov.ns.ca

Heather Deighan
Economic Development
902-424-8922
E-mail: deighahx@gov.ns.ca