The Federal government has promised C$70 million to the aquaculture industry over the next five years and proposals for the distribution of hte money have been worked out over the last month.
At the time of the announcement of the fresh cash for the industry Ruth Salmon, Executive Director of the Canadian Aquaculture Industry Alliance said: "In order to realize the full potential of aquaculture in Canada, the way forward is clear. Through the strong support of Fisheries and Oceans Minister Hearn, we now have a federal commitment to streamline regulations and provide strategic investments in research and innovation."
This week Miranda Prior, the executive director for the Newfoundland Aquaculture Industry Assoc-iation (NAIA) told Coaster newspaper: ""Throughout April the Federal government have been finalizing the plans for the monies announced in the budget and have prepared a submission to the Treasury Board on how this will be distributed. It is my understanding that we should hear about this in the next month or so.
"Industry representatives from throughout Canada were asked for input into how the funds would be used to help develop the industry throughout Canada. Such things as streamlining of provincial and federal regulations, monies for innovation and certification will all help to foster the long term viability of the products produced here in Newfoundland and Labrador."