February 27, 2008 14:49 ET

Industry Welcomes Federal Investment in Canadian Aquaculture

OTTAWA, ONTARIO--(Marketwire - Feb. 27, 2008) - Tuesday, February 26, was a good day for the continued growth of Canada's sustainable aquaculture industry.

With the unveiling of the budget yesterday in Ottawa, the federal government has demonstrated their recognition of the importance of the Canadian aquaculture industry as an economic driver for rural Canada.

The budget announced by Finance Minister Flaherty provides $70 million over 5 years for continued development of Canada's sustainable aquaculture industry.

"In order to realize the full potential of aquaculture in Canada, the way forward is clear. Through the strong support of Fisheries and Oceans Minister Hearn, we now have a federal commitment to streamline regulations and provide strategic investments in research and innovation," said Ruth Salmon, Executive Director of the Canadian Aquaculture Industry Alliance. "I have already heard from many of our members and all are expressing their gratitude to Minister Hearn and his staff."

As consumers are increasingly aware of the health benefits of fish with high Omega-3 content, demand for aquaculture is growing worldwide, and that represents a continued and tremendous economic opportunity for Canada.

"While the world demand for seafood products continues to rise, the sustainable harvests of wild stocks has reached its limit and been exceeded in many areas of the world. Aquaculture is the solution." said Ruth Salmon.

Realizing aquaculture's full potential will also revitalize Canada's rural, coastal and Aboriginal communities - providing as many as 47,000 new jobs in an industry that is socially, economically and environmentally sustainable. A vibrant aquaculture sector will serve as a boon to areas where traditional economies have been shrinking.

Yesterday's announcement is good news for the growth of the sustainable Canadian aquaculture industry - and it will mean a brighter economic future for many rural Canadians.

The Canadian Aquaculture Industry Alliance (CAIA) is a national industry association, headquartered in Ottawa. It represents the interests of Canadian aquaculture operators, feed companies and suppliers as well as provincial finfish and shellfish aquaculture associations. CAIA is dedicated to promoting a responsible and healthy Canadian aquaculture industry that follows sound environmental practices and showcasing the health benefits of a wide variety of nutritious seafood products.

Contact Information

  • Canadian Aquaculture Industry Alliance
    Ruth Salmon
    Executive Director
    BC Phone: 250-951-9866
    Cell Phone: 250-701-1431
    Canadian Aquaculture Industry Alliance
    John Rose
    Phone: 519-656-9951