The fund will support investment in the research and development of aquaculture species that are not currently commercialized in the province.
Government is launching a new Multi-Species Research and Development Fund to diversify and expand Newfoundland and Labrador’s aquaculture industry. Fisheries Minister Elvis Loveless announced the fund at Cold Harvest 2023, the Newfoundland Aquaculture Industry Association’s annual conference taking place in St. John’s. The fund will support investment in the research and development of aquaculture species that are not currently commercialized in the province. Successful program applicants will access non-repayable funding in order to expand the farming of cultured plants and new species. Minister Loveless says this new program to research and develop production of new species has the potential to support new jobs and economic stability, particularly in rural areas where it is most needed.
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