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Economic Development Minister Gerry Brownlee announced more funding for the aquaculture industry. (Photo: brownlee.co.nz/FIS
Aquaculture gets more funding
(NEW ZEALAND, 1/21/2010)
The national government has given New Zealand aquaculture companies another financial push. Economic Development Minister Gerry Brownlee said the investment will advance the industry's programme to drive growth over the medium to long term.
Brownlee announced the addition of NZD 550,000 (USD 406,038) to the aquaculture market development contestable fund to help aquaculture firms reap the benefits of up-and-coming offshore opportunities.
Launched early last year as part of the government's programme as partner with the aquaculture industry, the contestable fund is administered on a dollar-for-dollar match basis and is available to eligible companies for approved projects.
The first round allocation was of NZD 600,000 (USD 442,950) for five projects focusing on opportunities in key markets including Asia and North America.
"Aquaculture accounts for almost 20 per cent of New Zealand's seafood exports by revenue and currently generates close to NZD 350 million (USD 258.4 million) annually with a target goal to reach NZD 1 billion (USD 738.3 million) in sales by 2025," he said.
"The activity generated by new projects will build on the five projects which are already underway for two of aquaculture's flagship species, greenshell mussels and king salmon. Along with Pacific oysters, these species are major contributors to the growth of aquaculture production in New Zealand," Brownlee continued.
The funded projects will add to the broader goals of the New Zealand Aquaculture Market Development Strategy (MDS). Aquaculture New Zealand (AQNZ) is in the implementation phase of MDS with help from New Zealand Trade and Enterprise (NZTE) and funding assistance in response to the advice of the Food and Beverage Taskforce.
Applications close on 31 March 2010. Applicants will be chosen for funding by an assessment panel of an AQNZ representative, two NZTE representatives and two external industry representatives.
The fund is part of a larger NZD 6.5 million (USD 4.8 million) investment that will aid industry development. Based on the results from this funding, further investments may become available for other projects during the 2010-11 fiscal year.
Related article:
- Aquaculture industry scores NZD 600K grant
By Natalia Real
[email protected]
www.seafood.media
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