Newfoundland and Labrador - a rare find
Newfoundland and Labrador’s aquaculture industry is strategically located for North American and European markets. With over 17,000 kilometres of coastline, we are blessed with extensive open areas of pristine water ideally suited for aquaculture. The North Atlantic is known globally for its coldwater, high-quality seafood.
Specific areas within the province have been identified as desirable locations for aquaculture, including Notre Dame Bay, Green Bay, the Connaigre Peninsula, Bay d’Espoir, Fortune Bay, and Placentia Bay. These areas offer opportunities for all segments of the aquaculture industry, with proven results for salmonids and mussels. Total aquaculture production in 2018 was reported as 17,978 tonnes, valued at $204 million. That’s a 561% increase since the year 2000.
Atlantic salmon require ice-free water throughout the winter, so all finfish production in Newfoundland occurs along the south coast of the province. The safely sheltered bays that stay free of icebergs in the winter months make the south coast a perfect place for salmon farming.
In 2013, Newfoundland blue mussels became the first certified organic mussels in North America. Our ocean, with the ideal temperature, salinity, water depth, and pristine conditions, produce a flavourful, plump, and sweet-tasting mussel. Since 2000, blue mussel production volume and value has increased 173% and 340%, respectively.
Newfoundland steelhead trout are raised in Bay d’Espoir which is located on the south coast of the island. This fjord-sculpted bay reaches far inland and offers the rare combination of crystal-clear North Atlantic salt water layered with freshwater inflows from the region, which funnels cold, clean freshwater into the upper Bay d’Espoir region.
Aquaculture Capital Equity Program
This provincial program provides a minimum equity investment to qualifying companies of $250,000 for finfish operations and $100,000 for shellfish, to match a private sector cash investment to increase production from both hatcheries and marine sites in Newfoundland and Labrador.
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Aquaculture Working Capital Loan Guarantee Program
This provincial program provides assistance to organizations with strong business and operational plans.
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Research and Development Funding
Funding for commercial, academic, and student research and development, ranging from proof of concept to commercialization.