A$3.5 million in funding has been secured for the Huon Aquaculture Value Added Processing Facility project.
The project will provide the equipment to process fresh fish, as well as smokehouses and other machinery for boning, skinning, portioning and mincing.
It will also extend the existing factory building, car park and effluent treatment facilities.
Aquaculture is Australia's fastest growing primary industry, accounting for 34 per cent of the total gross value of seafood production.
The facility will support Tasmania's contribution to this vital industry by producing 100 per cent grown and processed salmon.
It will also benefit the local community, with 100 jobs created during the construction stage and 60 new full-time positions in the first year of operation.
The Tasmanian Government is funding the project by A$1.5 million and the Huon Aquaculture Company is providing more than $7 million to build this vital contributor to the Tasmanian economy.
This investment will pave the way for a long lasting sustainable aquaculture industry in Tasmania, allowing it to grow and meet market demands, creating more jobs and bringing tourists to the area.
This project is another example of the Australian Government's commitment to lifting the productive capacity of Tasmania.
The Australian Government's A$100 million Economic Growth Plan for Tasmania will provide targeted funding towards infrastructure, communications, jobs and technology as part of a comprehensive state-wide package to assist in growing Tasmania's economy.
