$1.66 million to promote growth of aquaculture industry
Development of ‘investment ready’ aquaculture zone on WA’s south coast
Made possible by the Liberal National Government’s Royalties for Regions program
The Liberal National Government today announced a $1.66 million project to develop an ‘investment ready’ aquaculture zone in coastal waters on Western Australia’s south coast.
Regional Development Minister Terry Redman said the south coast aquaculture development zone would support large-scale development of the aquaculture industry, attract investment and increase jobs, and was made possible by $1.3 million of Royalties for Regions funding.
“Aquaculture is the fastest growing primary industry in Australia, however growth rates in WA are constrained because of the cost and time involved in bringing individual aquaculture projects to developmental approval stage,” Mr Redman said.
“Investing in developing strategic assessments at a zone level removes the uncertainty felt by potential developers and investors and reduces start-up time and financial outlay.”
Fisheries Minister Joe Francis said a south coast aquaculture development zone would provide job opportunities, increasing the south coast region’s current and future marketability.
“Aquaculture development zones slash approval time from several years to several months, cutting costs and red tape and providing investment-ready areas for large-scale projects,” Mr Francis said.
“The area being considered for the proposed south coast zone encompasses the South-West, Great Southern and Goldfields-Esperance regions, and is expected to comprise multiple areas near regional centres, producing native shellfish and finfish species.”
The three-year project will be undertaken in stages in consultation with stakeholders such as aquaculture producers, representative organisations, investors and local communities.
Royalties for Regions has invested $1.3 million over four years towards the aquaculture project, while the Department of Fisheries has committed $360,000
The project will investigate suitable sites for ‘grow-out’ of target species, determine the required infrastructure and ensure environmental approval processes are managed