This EDA investment supports the alaska mariculture cluster, led by the southeast conference, with boosting the mariculture industry in alaska by catalyzing a sustainable mariculture industry,…

The Economic Development Administration of the Department of Commerce awarded a $10.3 million Project Grant to the Southeast Conference through the Economic Adjustment Assistance program (CFDA 11.307) on September 2, 2022 to support the Alaska Mariculture Cluster. The grant will fund projects to catalyze a sustainable mariculture industry in Alaska through 2026 by capitalizing a revolving loan fund to facilitate business expansion, developing mariculture-focused workforce training programs, and providing research funding to grow innovative seaweed and shellfish products. Spruce Root, Inc. will receive sub-award funding to support the revolving loan fund and processing of associated loans. The investment aims to strengthen regional industry clusters in Alaska by embracing economic equity, creating good-paying jobs, and enhancing U.S. competitiveness globally in the mariculture sector.

This EDA investment supports the alaska mariculture cluster, led by the southeast conference, with boosting the mariculture industry in alaska by catalyzing a sustainable mariculture industry, producing shellfish and seaweed for the long-term benefit of alaska's economy, environment, and communities. The projects funded as part of this award include the capitalization of a revolving loan fund to facilitate business expansion, the development of mariculture-focused workforce training programs, and the provision of research funding to grow innovative seaweed and shellfish products. The coalition will operate in partnership with sealaska, an alaska native corporation owned by more than 23,000 tlingit, haida, and tsimshian shareholders, ensuring the cluster's approach centers the priorities of tribal, rural, and underserved communities. Once implemented, the investment will help develop and strengthen regional industry clusters - all while embracing economic equity, creating good-paying jobs, and enhancing U.S. Competitiveness globally.