Sea bass farming in Nova Scotia
Canada: The government of Nova Scotia is investing in a unique land-based aquaculture start-up in Hants County that will introduce Mediterranean sea bass to Atlantic Canada.
Sustainable Fish Farming Canada Ltd. will receive a repayable loan of CAD 750,000 through the province's Industrial Expansion Fund. Jeremy Lee, the company president, has also made a CAD 1 million personal contribution and has received repayable loans of CAD 625,000 from the Atlantic Canada Opportunities Agency (ACOA).
Mediterranean sea bass grow to maturity quickly, for faster turnaround and reduced working capital. The species requires a unique environment, which Mr. Lee will provide with his expertise. Sustainable Fish Farming will also include a recirculation marine fish research unit for halibut growth.
The Industrial Expansion Fund (IEF) is one method the government of Nova Scotia uses to support economic development in the province. It is key to helping industries involved in innovation and technology and contributing to a prosperous and sustainable business climate for Nova Scotia. The IEF has considerable flexibility in the amount and type of funding it can provide.
