An AUD 1.7 million (USD 1.3 million, EUR 1.2 million) project to develop an “investment ready” aquaculture zone in coastal waters on Western Australia's south coast has been announced by the Liberal National Government.
The aquaculture development zone, supported with AUD 1.3 million (USD 987,254, EUR 891,254) of Royalties for Regions funding, would support large-scale development of the aquaculture industry, attract investment and increase jobs, said Regional Development Minister Terry Redman.
"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," said Redman. "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," said Francis.
"The area being considered for the proposed south coast zone encompasses the Southwest, Great Southern and Goldfields-Esperance regions, and is expected to comprise multiple areas near regional centers, producing native shellfish and finfish species."
The three-year project will be undertaken in stages in consultation with stakeholders such as aquaculture producers, representative organizations, investors and local communities.
