The state government launched the $20 million Aquaculture Industry Development Program on Monday, aiming to strengthen and expand the seafood industry’s economic contribution to NSW.

The program is designed to boost productivity and increase sustainability across farming operations for oysters, mussels, kelp, and algae, plus freshwater and marine fish hatcheries and bioproducts.

“By investing in sustainability and productivity, the Minns Government is helping future-proof the industry, attract investment, and ensure regional communities continue to benefit from a strong, resilient seafood sector,” the state government said in a statement.

NSW Farmers president Xavier Martin welcomed the move.

“The NSW aquaculture industry has set a target to double its farmgate production value to $300 million by 2030, and this initiative will help achieve this through industry innovation, climate change adaptation and the diversification of products,” Mr Martin said.

“As the sector recovers, this program will help ensure industry can manage the risks and take advantage of opportunities in the coming years and decades, through the sustainable development of our natural resources and support for innovation.”

Under the program, the aquaculture and commercial fishing industries will have access to two targeted funding streams, offering grants from $500,000 to $2 million, for the following:

● Stream One – Projects focused on infrastructure upgrades to support growth and productivity, such as equipment upgrades, supply chain improvements and new product development.

● Stream Two – Projects that reduce carbon emissions and promote reuse and regeneration of materials, such as converting equipment to lower emissions or creating bioproducts and utilising waste streams such as processing of oyster shells.

This $20 million investment will help the sector address opportunities and challenges facing the industry such as:

● incoming mandatory Country-of-Origin Labelling requirements for seafood served in hospitality venues from 2026

● managing environmental and biosecurity risks in fisheries and hatcheries

● supply chain challenges of getting produce to state, national and international markets.

Aboriginal businesses and organisations, including Aboriginal Community-Controlled Organisations, are strongly encouraged to apply.

Minister for Agriculture and Regional NSW, Tara Moriarty said the program will deliver real economic benefits and jobs to regional and coastal communities by helping seafood businesses grow and become more efficient.

“This is a great opportunity for regional aquaculture and commercial fishing businesses to tap into the growing national and global appetite for high-quality protein,” she said.

“It means the industry can innovate and look at growing the exciting new developments in seaweed, algae and freshwater and marine bioproducts.

“Ultimately it’s about boosting jobs, strengthening our seafood and emerging bioproducts sectors, and making sure we can keep enjoying the great seafood New South Wales is known for.”

Source - https://myallcoast.newsofthearea.com.au