The province is helping a family-owned small business expand its operation and strengthen the economy in rural Nova Scotia.
Canaqua Seafoods is growing its land-based fish farm in West Advocate, creating more good jobs for Nova Scotians.
"Canaqua is an impressive, family-run small business that is creating good jobs families can count on," said Economic and Rural Development and Tourism Minister Graham Steele. "The province's support will help Canaqua continue to provide opportunities for people to put down roots and make a life in rural Nova Scotia."
Canaqua grows halibut, arctic char, and salmon smolt at its innovative facility in West Advocate. The operation is the first of its kind in Nova Scotia, using technology that pumps seawater to onshore tanks. The company is considered a world leader in land-based halibut farming.
The province is lending Canaqua $1 million in working capital for its $5.5 million expansion, which will create 14 new full and part-time jobs. The interest-bearing loan is repayable over 10 years.
Canaqua currently employs 10 people full-time and an additional four to seven seasonal and part-time staff.
Canaqua and its parent company, Merlin Fish Farms Ltd., have contributed $2.9 million to the expansion, which is already underway.
"The potential for land-based aquaculture is enormous, and when practiced sustainably, aquaculture is a perfect fit for Nova Scotia," said Canaqua Seafoods president and owner Paul Merlin. "Farming marine species like finfish, shellfish, and other organisms offers great opportunity to expand Nova Scotia's workforce. With the province's support, I can grow my business and provide more people with rewarding, interesting, and environmentally considerate jobs, at home in Nova Scotia."
Aquaculture is one of the fastest growing sectors in the fishing industry and has strong growth potential in Nova Scotia. Half of all seafood consumed is farmed.
Nova Scotia's aquaculture strategy is helping to grow an economically, environmentally, and socially sustainable industry, and create jobs and wealth in rural and coastal communities.
"We're very pleased with the province's commitment to help Canaqua access the support it needs to grow its state-of-the-art, land-based halibut farm," said Aquaculture Association of Nova Scotia executive director Bruce Hancock. "Aquaculture represents a fantastic opportunity for rural Nova Scotia, and supporting small and medium-sized businesses like Canaqua is key to taking advantage of opportunities to grow our economy, provide long-term, rewarding jobs, and offer better access to locally grown food."
Aquaculture is a significant contributor to Nova Scotia's economy, especially in rural and coastal communities. The industry is worth about $57 million annually, and supports about 750 direct and more than 1,000 indirect jobs.
The Nova Scotia Jobs Fund pursues investment opportunities for communities in transition, industry sectors, regional support, small business programs, infrastructure, and large industrial ventures.
FOR BROADCAST USE:
?????The province is helping a family-owned small business
expand its operation and strengthen the economy in rural Nova
Scotia.
?????Canaqua Seafoods is growing its land-based fish farm in
West Advocate, creating more good jobs for Nova Scotians.
????? The province is lending the company one-million-dollars
toward its expansion, which will create 14 new full- and part-
time jobs. The interest-bearing loan is repayable over 10 years.
?????Economic and Rural Development and Tourism Minister Graham
Steele says the province?s support will help Canaqua continue to
provide opportunities for people to put down roots and make a
life in rural Nova Scotia.
?????Canaqua grows halibut, arctic char, and salmon smolt at its
innovative, land-based facility in West Advocate. The operation
is the first of its kind in Nova Scotia, using technology that
pumps seawater to onshore tanks. The company is considered a
world leader in land-based halibut farming.
-30-
Media Contact: Tina Thibeau
????????????? Economic and Rural Development and Tourism
????????????? 902-424-5836
????????????? E-mail: thibeatd@gov.ns.ca
????????????? Paul Merlin
????????????? Canaqua Seafoods
????????????? 902-548-2687
????????????? E-mail: meraqua@msn.com
Source: http://novascotia.ca/news/release/?id=20130614001
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