The Ministry of Fisheries and Oceans is investing $925,000 in four Vancouver Island aquaculture projects.
The federal funding, which comes from the Aquaculture Innovation and Market Access Program, is supporting two finfish and two shellfish aquaculture projects.
The projects are designed to help the industry expand its market potential through new technologies.
The companies receiving project funding are the Namgis First Nation (near Port McNeill), Pfizer Animal Health (Saanichton), Fanny Bay Oysters (Union Bay) and Maplestar Seafood (Nanoose Bay).
Nationally, aquaculture production has increased four-fold in the past 20 years.
Approximately 70% of all Canadian aquaculture products are sold to foreign markets. Half of all seafood consumed in the world is now farmed.
Keith Ashfield, minister of fisheries and oceans, said, “The B.C aquaculture industry currently provides an estimated 6,000 jobs and over $224 million in wages for British Columbians.”
Jennifer Harrison
@jharrisonbiv