Oct 19th 2015 -MONCTON, NB -

The federal and New Brunswick invest $ 1.2 million to help seven oyster producers.

Oyster farming is, by definition, green and sustainable. Oysters cannot tolerate the discharge of sewage or other toxins; the presence of oyster farming, therefore, often results in increased awareness and monitoring of coastal waters. In addition to being important modulators of nutrient cycles in ecological systems, farmed oysters help to reduce greenhouse gases by removing carbon dioxide from the ocean for shell formation.

The seven companies to get money are Acadian Bay Enterprises Inc. in Sainte-Anne -de- Kent, Cape Oysters Ltd. Dieppe, Aquador Oysters Inc. Aldouane, R & D Shellfish Ltd. in Cocagne, King Aquaculture Inc. -Village in Richibucto, Bouctouche Mauril Bastarache and Oyster Farm Ltd. Norm -Village in Richibucto.

The province spends just over $ 377,000 through the Development Fund and the Miramichi Regional Economic Innovation, while the federal government provides repayable contributions worth about $ 893,000 by the Atlantic Opportunities Agency.

The money will be used to expand operations, increase sales and improve productivity.

In 2013, production of New Brunswick oysters were valued at over $ 5.6 million.

TAGS: GOVERNMENT FARM LOANS, GOVERNMENT BUSINESS LOANS, GOVERNMENT FARM GRANTS, GOVERNMENT GRANTS FOR BUSINESS, GRANTS FOR FARMING, BUSINESS GRANTS, NB BUSINESS FUNDING, CANADIAN GOVERNMENT BUSINESS GRANTS, GOVERNMENT FUNDING, BUSINESS NEWS, GOVERNMENT GRANTS CANADA, CANADIAN GOVERNMENT GRANTS