"It is unfortunate that North Atlantic Sea Farms Corporation in St. Alban’s has been experiencing financial difficulties which has impacted their ability to secure feed for their fish farm operation," said Mr. Reid. "Although this is a private operation, government should not turn its back on this sector, and they should provide some type of support to ensure its survival.

"Past governments, both Liberal and Tory, have invested millions of dollars in growing the aquaculture industry in the province. It has not always been easy along the way, however, the industry has grown to the point where hundreds of people are now employed and the future looks bright for this sector of our economy. This current circumstance is another bump in the road and government must find creative solutions to ensure these companies can survive through this period of uncertainty.

"As a former minister, I would encourage government to examine a loan guarantee program, similar to that used in New Brunswick, that would provide a revolving loan that would allow fish farming operations to repay money in progression and assures a company the ability to repay a loan while still having enough capital available to keep the operation viable. The arrangement, similar to the New Brunswick model, should have proper safeguards to protect the interest of the government of Newfoundland and Labrador should the company go bankrupt. This program has worked in New Brunswick, and I think now is the time for Minister Taylor to be creative and look at this type of solution instead of turning his back on rural areas of the province once again.

"If government is serious about helping rural industries in our province, I encourage them to look at a creative solution such as this. There are 140 direct and many more indirect jobs at risk in the St. Alban’s area, and supporting this initiative could help the future growth of our aquaculture industry. I am certain that officials in the Department of Fisheries and Aquaculture are making these recommendations to the minister, I hope the minister will now take their advice."