Ketchikan considers $600K loan to mariculture group that wants to produce oyster, geoduck seed

bug


We also have more stories about:
(click the phrases to see a list)

Places:

 


KETCHIKAN, Alaska — The Ketchikan Gateway Borough is deciding whether to loan $600,000 in federal economic development money to a nonprofit group that wants to advance the local mariculture industry.

The Ketchikan Daily News (http://bit.ly/1BGkZK0) reports the loan would be used to pay operating expenses of Ketchikan-based OceansAlaska.

The marine science center is shifting its focus to production of oyster and geoduck (GOO'-ee-duk) seed.

Geoducks are highly prized, large burrowing clams that can fetch up to $50 a pound in Asian markets.

The city already granted money to the group. Under the latest proposal, that money and another $441,000 would be combined into a 20-year loan.

The proposed loan could come up for a final vote Monday night.


Information from: Ketchikan (Alaska) Daily News, http://www.ketchikandailynews.com

All content copyright ©2014 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.