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Newfoundland aquaculture industry receives major investment

Greg Knott
The Coaster
May 1, 2007

When the provincial budget was announced last week major investments were made to the aquaculture industry.

Millions of dollars were invested in this region, including the announcement of $1.2 million toward the establishment of a new Aquatic Veterinary Diagnostic Facility in St. Alban's. The new building, which will be built in support of the aquaculture industry, is expected to cost $4.3 million and is scheduled to be complete in 2008.

"Clearly, investment in developing and diversifying our fishery is a priority for government," said Tom Rideout, Minister of Fisheries and Aquaculture, in a press release issued on Budget day last week. "To ensure the fishery continues to support the development of rural Newfoundland and Labrador, our government remains committed to making strategic investments in fisheries and aquaculture."

Cyr Coutourier, president of the Newfoundland Aquaculture Industry Association said it was a reasonable budget and generally everyone in the industry was happy.

"Generally speaking it's always positive when we have aquaculture mentioned and supported in a provincial budget. This just reaffirms this particular governments commitment to support on aquaculture following on some of the recommendations industry has been making for several years" ... ... ... ...