Socio-Economic Benefits

Aquaculture is a true Newfoundland and Labrador economic success story.

Newfoundland and Labrador’s aquaculture industry creates 2,500 direct and indirect jobs and has a total market value of $276 million.

Newfoundlanders have embraced the aquaculture development opportunity and have seen the value of their industry rise by 50 per cent in one year from $60 million in 2009 to $90 million in 2010.

Aquaculture is an important economic driver for this province which is helping to bring prosperity to rural, coastal communities.

In addition to the direct jobs created on the farms, hatcheries and processing plants, the industry has generated indirect jobs in feed manufacturing, packaging, transportation, the supply and service sectors as well as spin off jobs in retail and tourism.

Our farmers are building an industry that will help keep our young people at home by offering them challenging, full-time work in their own communities. Over 90 per cent of the jobs in the salmon farming industry are full-time. Seven per cent are part-time and only three per cent are seasonal.