Do You Know What Are The Regulatory Or Economic Barriers Faced By Existing Companies Or New Ventures That Want To Start Fish Farms?
There are many regulatory barriers to aquaculture because the industry is regulated by 7 different agencies: FDA, EPA, USDA, US Army Corps of Engineers, FWS, NMFS and the US Coast Guard. The individual states also have authority over their coastal and inland waters. There is no comprehensive regulatory structure in place for the aquaculture industry-each agency has a piece of it and this makes it difficult to know where to go and what to do to be in compliance. Fish farmers don't have a problem with following the rules-the problem is the absence of clear, easy-to-understand regulations. In terms of economic barriers, it is really difficult to get a loan to start a fish farm. The main problem is that fish have a long growth period before they can be harvested. It can be at least 6 months before the fish are ready to be harvested. Bankers are unlikely to finance because of a long turn around time. There are also no government incentives to subsidize aquaculture like there are for other agricultural industries. There are only grant programs for aquaculture research, and the amount of investment in aquaculture is minor relative to other agricultural enterprises.
