The Maine Aquaculture Association has announced the release of the first-of-its-kind Maine Aquaculture Industry Financial Benchmarking report. The report, completed in partnership with nationally renowned aquaculture economists Dr. Carole Engle of Engle-Stone Aquatic$ and Dr. Jonathan van Senten of the Virginia Seafood Agriculture and Experiment Station, presents results from the calculation of a series of benchmarks designed to serve as guidance for prospective Maine shellfish and seaweed producers for use in their business planning, as well as by lenders in the evaluation of loan applications.
Maine oyster, mussel, scallop, and seaweed farmers were interviewed and provided data based on the 2017 to 2019 growing seasons. Financial performance benchmarks and the types of risks and problems faced by shellfish and seaweed farmers were then summarized.
The report is accompanied by a series of tables, figures, two-page infographic summaries of each species, and a user guide for both business owners and financiers. The report, user guide, and infographics are available for free download below: