Diversification Strategy Creating Regional Seafood Jobs Thu 10 May 2012 David O'Byrne Minister for Economic Development The Minister for Economic Development, David O'Byrne, today welcomed the creation of new and sustainable jobs - fuelled by the State and Federal Governments' strategies to diversify Tasmania's economy. Mr O'Byrne visited Huon Valley Seafoods, which has secured a $400,000 grant through the Australian Government's Tasmanian Innovation and Investment Fund (TIIF). The company will now double its fish processing capacity over the next two years, creating 30 new jobs. "As a small, export-based economy, we must play to our natural Tasmanian strengths," Mr O'Byrne said. "That's how you find new markets, strengthen local supply chains, and create new and lasting jobs. And playing to our strengths is what the State Government's Economic Development Plan is all about. "Those strengths include our aquaculture industry. Aquaculture production continues to grow each year, and the EDP identifies as a key growth opportunity for our state. "The Tasmanian Innovation and Investment Fund complements the State Government's diversification strategy very well. "It helps provide the strategic financial support to expand and broaden these key sustainable industries. "In particular, this $800,000 seafood processing expansion will provide a construction boost for the Huon Valley in the shorter term, and 30 lasting new jobs when completed. "This TIIF grant is a strategic decision to invest in infrastructure which adds value to a very valuable local supply chain," he said. HVS is one of 26 successful applicants under the TIIF, receiving a combined total of $8.3 million. Mr O'Byrne acknowledged the Australian Government is instrumental in getting these types of industry projects underway. "The Federal Government's assistance through the Tasmanian Intergovernmental Forests Agreement initiatives, such as TIIF, is helping to guide local economies through the crucial transition underway in the forestry industry," he said.