Industry Profile

Species

Biotech

Lease Sites

Maine Industry Profile

Industry Overview

Commercial Products:

Salmon, Mussels, Oysters

Products in Development:

Halibut, Clams, Groundfish, Urchins and Scallops

2002 Estimated Value of Harvest:

$57 million annually

Capital Investment in Infrastructure:

$100 + million

Number of Farms:

96 (13 Finfish; 45 Shellfish; 15 Experimental; 23 LPAs)

Location of Farms:

All coastal counties

No. of Private Hatcheries:

8 Finfish; 6 Shellfish

Number of Ocean Lease sites:

155 (May, 2004)

Amount of Leased Ocean Acreage:

1,339 acres (739 Finfish; 570 Shellfish; 30 Experimental)

• Availability of clean water -- inland, and in the ocean.
• Diverse areas that vary environmentally and facilitate species diversification.
• An existing infrasructure to handle permitting, research, development and extension.
• The willingness of government and commercial fishermen to accept aquaculture.
• Existence of a strong marine and seafood infrastructure (processing, transportation, and marketing).

• Expense of complying with regulations issued by agencies with overlapping jurisdictions.
• Competition in the US market with relatively unregulated foreign competitors.
• Riparian opposition to new ocean lease sites.
• High costs relating to the management of finfish and shellfish diseases.
• Limited access to investment capital.
• Lack of public understanding of aquaculture's economic development potential.
• State budget situation limits the reopening of potentially valuable shellfish harvesting areas.