The Provincial Growth Fund is spending $900,000 on feasibility studies into upgrading aquaculture and marine services in Coromandel.
Regional Economic Development Minister Shane Jones says existing facilities can’t cope with the growing demands of the aquaculture industry.
Coromandel produces around 26 per cent of New Zealand greenshell mussels and 24 per cent of Pacific oysters, and production is expected to double over the next decade.
The studies will cover the upgrade of Sugarloaf Wharf at Coromandel, the proposed Coromandel Marine Gateway marina project, and the Kopu Marine Precinct near Thames.
Mr Jones says aquaculture now has annual sales of $612 million after growing 70 percent over the past seven years, and it can drive regional development.
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