The Western Australian (WA) government will invest AUD 8.5 million (EUR 5.2 million/ USD 5.5 million) over the next four years to boost research and development in the region. Additionally, they will use these funds to improve facilities in Broome, Pemberton, and Albany.
The focus is on projects that are identified with the Aquaculture Development Plan for WA. A plan that aims to accelerate the development of the industry while reducing risk for new and existing industry operators.
"Having modern, fit-for-purpose aquaculture facilities is essential to increasing production and research capacity to attract new investment." Especially "in areas such as finfish and seaweed research and production," said Fisheries and Regional Development Minister Don Punch.
To do so, part of the funding will be for developing industry plans and another for research.
Development-focused funding aims to enhance the Pemberton Freshwater Research Center. This will support the continued expansion of the popular freshwater trout fishery and the continued maintenance of the Albany Aquaculture Park and Albany Shellfish Hatchery to fuel the growth of shellfish aquaculture on the South Coast. Research, meanwhile, will target core sectors, including marine shellfish and fish, freshwater aquaculture, and emerging industries such as seaweed.
Finally, the statement from the Australian government specified that AUD 2 million (EUR 1.2 million/ USD 1.3 million) is for the upgrade of the Broome Tropical Aquaculture Park.
"WA's aquaculture industry, excluding pearling, is worth $21 million and is vital to growing WA's food industries and creating new jobs, especially across regional WA," said Punch.
Australia's investment in this endeavor represents a significant and assertive move, demonstrating its commitment to progress. Coupled with the investments made in fishing through the proposed MSC projects, the region sets its sights high on development.