July 20, 2010

NZ's Bay of Plenty to develop aquaculture sector

The Eastern Bay of Plenty will use the funding worth NZD104,000 (US$73,845) from the New Zealand Trade and Enterprise (NZTE) to help set up a regional aquaculture organisation and create a regional profile of the budding aquaculture industry.

"Aquaculture will have an huge impact on the economic wellbeing of the Eastern Bay of Plenty - in fact, the wider region will feel significant gain as the industry grows," stated Mayor of Opotiki John Forbes. "Having gained consent to establish a 3,800-hectare marine farm we now need to be sure we are using it to the best advantage."

"Marine farming is relatively new to New Zealand and we have a lot to learn. The Bay of Plenty aquaculture organisation will work to pull all the information together and help us reach the target of NZD250 million (US$177.5 million) generated through aquaculture by 2015," he added.

The development of the Opotiki Harbour will also be aided by the organisation.

Forbes said the harbour's development is intrinsically connected to the development of the marine farm because without an aquaculture industry, the harbour will not advance. Also, he said, without a harbour and onshore facilities, the marine farm's location would be irrelevant.

The harbour itself will be publicly owned, and NZ will have to keep up with the commercial dynamics affecting the aquaculture industry. Forbes said they are prepared to begin construction as soon as the industry is ready.

Funds from the regional governance group and NZTE will help create a preliminary business case for the Opotiki Harbour development and to put a wide-ranging communications plan into practice.