In addition to expanding their marine cage farming operations in the Coast of Bays region, the expansion will include the construction of a salmon smolt hatchery in Stephenville.
Fisheries Minister Clyde Jackman made the announcement today at a news conference in Stephenville along with Larry Ingalls, owner of Northern Harvest Sea Farms Ltd., and Tony Cornect, MHA for Port au Port.
“This project will enable the province’s aquaculture industry to achieve the critical mass necessary to attract further private sector investment in the province,” Jackman said. “The new hatchery, in particular, is an important component of growing the province’s aquaculture industry to the next level. Completion of the hatchery will ensure security of smolt supply for the provincial industry, provide for greater biosecurity in the transport of smolt and provide the opportunity for our industry to take advantage of the full growing season. It will reduce overall costs for smolt, provide greater flexibility in stocking fish and increase the competitiveness of the industry.”
According to a news release, to assist the company with setting up operations in the province, the provincial government will provide 50 per cent of the cost of setting up the hatchery and 25 per cent of the cost of expanding the marine farming sites.
“This project will enable the province’s aquaculture industry to achieve the critical mass necessary to attract further private sector investment in the province,” - Fisheries Minister Clyde Jackman
This funding will be provided through the Aquaculture Capital Equity Investment Program and will be based on a matching investment from the company. In return, the provincial government will have an equity position in the expanded company until the development is completed and the provincial investment is repaid in seven years.
“Our company is looking forward to expanding operations in this province,” said Ingalls.
It is anticipated that by 2013, Northern Harvest Sea Farms Ltd. will create approximately 600 jobs in the province. It is expected that 150 of these jobs will be directly on aquaculture sites or at the hatchery. Approximately 450 of these jobs are expected to be created in processing and service sectors within the aquaculture industry. The company’s major operations will be located at Harbour Breton and Pool’s Cove. The hatchery will create a number of professional positions for highly skilled workers in the Stephenville area and produce 4.5 million salmon smolt annually.
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