Jan
29

Analysis shows massive aquaculture growth

Tags: None | Posted by business@nfld.net | 0 Comments

 

The province’s aquaculture industry has grown tenfold over the space of a decade, according to a new analysis released by the provincial government Monday morning.


That growth has transformed the south coast of the province, according to aquaculture operator Jennifer Caines.

 

“It’s real. I know I certainly feel it in my own community, and the many communities where we have employees,” said Caines, project manager of Northern Harvest Sea Farms. “I’ve worked in the aquaculture industry for 30 years in the province, but it’s really the past 12 or 14 years that I’ve seen major increases in employment, and just the activity around the area.”

 

Northern Harvest is one of the companies that produce salmon in the province, and that’s where the massive industry growth has been — from fewer than 5,000 tonnes in 2003 up to more than 20,000 tonnes a decade later.

 

That growth has translated into the province’s economy.

 

In 2003, the total impact on the province’s GDP from aquaculture was about $10.5 million. In 2013, it was $104.1.

 

To read the remainder of this article, please visit:

http://www.thetelegram.com/Business/2015-01-26/article-4021466/Analysis-shows-massive-aquaculture-growth/1