At the present time they are accepting requests for options to lease for marine trout and marine plants, and suspended culture shellfish, like oysters and mussels.
An option to lease, which has no charge to apply, will take about 2 months for a reply. If you are accepted, you go to the next step.
The next step is “ Option”: and it costs $500. It can take 6 months. You need more details and a public meeting.
Next step is the application: takes 1 month. (Application Form; Development Plan; Scoping Report) Here they will accept or decline your application.
The next step is the review: it takes about 7 months. They review all and have a public hearing
The last step is the decision: takes 2 months.
Total : 18 months
FUNDING?? The Atlantic Canada Opportunities Agency has funding for aquaculture. They can assist in all phases of the operation (set-up, growth, harvesting, processing) as long as the business case is there. However, given the length of time it takes to get all the necessary permits in place, the do not consider providing assistance to an aquaculture project until all necessary permits are secured. Assistance is in the form of a fully repayable, unsecured, interest free loan for up to 50% of project costs. Their maximum contribution is $500,000.
The fisheries and aquaculture loan board also provides funding. They defer payments for 3 years, as it will take three years for your product to grow from seed to market size.