Fisheries and Aquaculture
The Government of Newfoundland and Labrador recognizes aquaculture as a significant growth opportunity that requires cooperation between industry, government and academia. This growth can only occur where a favourable investment climate exists, created by sustainable environmental policies and a streamlined licensing system.
Newfoundland and Labrador's aquaculture industry is strategically located for North American and European markets. It is endowed with extensive open areas of pristine water ideally suited for aquaculture. The Department of Fisheries and Aquaculture recognizes the area encompassing the Connaigre Peninsula, Bay d'Espoir, Fortune Bay and Placentia Bay as regions with considerable aquaculture potential. The area offers opportunity for all commercial sectors including the mussel industry, the growth of egg-to-plate cod, and the expanding salmonid sector. The growth and continued development of these exciting sectors can only be realized with substantial investment. There is significant opportunity for private sector investment and the Government of Newfoundland and Labrador has put programs in place to foster industry development.
The Department of Fisheries and Aquaculture has adopted a strategic approach to attracting capital investment into the Newfoundland and Labrador aquaculture industry. An investment prospecting package entitled Cultivating Your Investment was prepared and highlighted the investment opportunities within the industry.
To promote the sector as an investment opportunity, staff of the Aquaculture Branch attend a variety of industry trade shows on a regular basis. These include the Aquaculture Exhibition and Fair in New Brunswick and the Aquanor trade show in Norway. For more information on the investment prospecting initiative please contact:
In support of the investment prospecting efforts of the Aquaculture Branch; the Aquaculture Working Capital Loan Guarantee Program and Aquaculture Capital Investment Program provide financial incentives for companies to establish operation in Newfoundland and Labrador. For more information on these two programs please contact the Aquaculture Branch.