Mr. Speaker, the future of the aquaculture industry in Newfoundland is very promising. Announcements made by the federal aquaculture development strategy is evidence of this.
Also, the aquaculture steering committee's strategic plan for the development of Newfoundland and Labrador is further evidence. Additionally, a $100 million economic renewal program has committed $20 million to the industry to foster development.
Aquaculture in Newfoundland is entering a growth period where production is expected to rise dramatically over the next two to three years and well into the future. With this new growth, new jobs will be created in my riding of St. John's West as well as many other rural and coastal communities where limited opportunities exist.