We propose a Budget 2008 allocation of $10 million towards the establishment of a Closed System Aquaculture Innovation and Development Fund to foster the accelerated development of closed containment technology for salmon aquaculture.

The Closed System Aquaculture Innovation and Development Fund would provide matching funds on a one-to-one basis to qualified entrepreneurs who demonstrate the ability to build and operate closed system salmon aquaculture projects. This enables private entrepreneurs to prove the viability and financial feasibility of closed containment systems without carrying the full capital costs, and without forcing existing private business into an immediate, capital-intensive transition to a technology with which they are not familiar.

Together, we can demonstrate to the world that British Columbia is advancing technological innovation, ensuring economic opportunity and accepting responsibility for our environment and the future of our wild salmon.