This presentation will share business planning and management tools developed as part of a project funded under the NOAA Sea Grant funding opportunity titled, “Addressing Economics and Market Needs of the U.S. Aquaculture Industry” with a particular focus on the integration of a Life Cycle Analysis with the financial planning tool.
Project objectives include: (1) Develop business planning and management tools for kelp aquaculture systems, which improve the economic and financial viability of this industry; (2) Increase access to capital among existing and prospective seaweed farmers via an emphasis on improved industry knowledge for investors/financers/potential market entrants: (3) Conduct a comprehensive economic assessment of the ecosystem services provided by seaweed aquaculture; and (4) Develop outreach and education activities through SG extension for industry, regulators and financial institutions to support the development of a seaweed aquaculture industry.
The presentation will focus on objective (3) above and will also demonstrate the use of the financial planning tool (available on NOAA Sea Grant’s National Seaweed Hub https://seaweedhub.extension.uconn.edu/). Participants may wish to download the financial planning tool in advance of the session to work along with the presenter.