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 The
federal government announced a one-time federal
investment of up to $20-million in the New Brunswick
salmon aquaculture industry on July 12. The funds are to
assist the industry in the short term, while long-term
strategic solutions are considered.
The investment will assist salmon farm operators in New
Brunswick, the only segment of the aquaculture industry to
experience significant uncompensated losses due to
eradication orders aimed at disease control. The funds will
help salmon growers to refinance and secure working capital
that will permit them to place juvenile salmon in pens this
season.
Although a relatively new industry, the salmon
aquaculture industry has grown in to be a key agri-food
industry for both New Brunswick and the region. In New
Brunswick, the salmon aquaculture generated a farm gate
value of $179 million and 1,600 direct jobs in 2003 to the
benefit of many of our coastal communities.
The announcement comes in response to a recommendation
made by the Task Force on Fostering a Sustainable Salmon
Farming Industry in Atlantic Canada to provide immediate
financial assistance to Atlantic Canada's aquaculture
industry. The Task Force was established in December 2004
jointly by the federal government, the provinces of New
Brunswick, Newfoundland and Labrador, Nova Scotia and the
New Brunswick Salmon Growers Association. The report is
available by accessing the link provided below.
News Release
Report
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