By investing in this kind of sustainable aquaculture project, we are ensuring many economic benefits and creating a variety of challenging career choices for people living in rural or coastal communities, said Minister Ashfield.
Through this latest round of funding through Fisheries and Oceans Canadas Aquaculture Innovation and Market Access Programme, Scotian Halibut Ltd. received $400,000 for innovations in Atlantic halibut broodstock rearing.
Scotian Halibut Limited produces Atlantic halibut juveniles for North American and European markets. This funding will allow them to construct an innovative rearing/conditioning tank holding system that will increase broodstock productivity and improve the availability of domesticated halibut stock for aquaculture. This will increase Scotian Halibuts global competitiveness as well as that of its Canadian clients.
Fisheries and Oceans Canada, through its Sustainable Aquaculture Programme, is committed to supporting the sustainable development of the Canadian industry, based on the best science available and within one of the most rigorous regulatory systems in the world.
Aquaculture production volume in Nova Scotia was approximately 8,000 tonnes, valued at C$41.3 million in 2010. The industry generates over C$12 million in direct income in Nova Scotia, a number that doubles to almost C$24 million when indirect and induced income is included. Finfish aquaculture makes up the majority of aquaculture production value in Nova Scotia, accounting for approximately 80 per cent of the value and 64 per cent of the volume of production.
As well, Fisheries and Oceans Canada, in collaboration with provincial and territorial government departments and agencies, recently created the Aquaculture Sustainability Reporting Initiative to provide a regular cycle of fact-based reporting on the sustainability of aquaculture in Canada. Under this initiative, Fisheries and Oceans Canada released Aquaculture in Canada 2012: A Report on Aquaculture Sustainability. This report documents current information related to the social, economic and environmental dimensions of aquaculture.
Aquaculture contributes nearly $1 billion to the Canadian economy, providing some 14,500 jobs often to young people and women, and those living in remote and coastal communities. As Canadas aquaculture industry continues to grow, Fisheries and Oceans Canada will provide management and regulation to ensure wild fish stocks are protected, and that aquaculture in Canada is developed in an economically viable and environmentally sustainable manner.
Learn more about the Aquaculture Innovation and Market Access Programme.