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Business and Economy

NOAA Wants To Fund More Fish Farming To Offset Trade Gap

PORTLAND, Maine - Federal marine regulators are making $450,000 available to try to foster more seafood farming on the East Coast.
The National Oceanic and Atmospheric Administration says it's providing $450,000 to expand aquaculture operations and production off the eastern states. The agency says it wants to offset the U.S.'s $14 billion seafood trade deficit.
NOAA saying it's looking to fund pilot projects for fish, shellfish, seaweed and other facets of the domestic aquaculture industry that it considers "newcomers.'' It also wants to help develop environmentally sustainable ocean farming.
The money will be distributed through the Atlantic States Marine Fisheries Commission. NOAA also is making money available for aquaculture projects in the Gulf of Mexico and Pacific.