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May 7, 2013

United States

Hawaii—Kona Bay Marine Resources May Receive State Funds to Protect Its Hatchery

 

The Hawaiian State Legislature has approved a bill authorizing the administration to issue up to $1.3 million in bonds to Sunrise Capital’s shrimp farm, Kona Bay Marine Farms, to protect its hatchery against shoreline erosion.

 

Representative Dee Morikawa (Democrat, 16th District) said the bill does not give the company outright money.  “It’s a loan, it’s not free money, but it’s like a low-interest (loan),” she said.

 

According to the bill, “The Department of Budget and Finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $1.3 million in one or more series, for the purpose of assisting Sunrise Capital Inc., a Hawaiian corporation, in the planning, design, and construction of a two-phase project that will protect its shrimp hatchery facility.”

 

The first phase will include protection of the packing facility, and the second phase will move the packing facility and its salt water well further inland, away from shoreline erosion.

 

“The shrimp hatchery is the second-largest supplier of pathogen-free shrimp breeding stock in the state,” Morikawa said.  “It is an important economic contributor and employer in West Kaua’i, and has a worldwide reputation for producing disease-free shrimp.”

 

Approval from the Legislature is not a guarantee that the Sunrise Capital will have the bonds available, according to Morikawa.  She said the funding for all projects, bonds and grants passed by the Legislature have to be approved by Governor Neil Abercrombie.  “I’m not sure when he’s going to do, or if he will do it, we’re just giving him the leeway to fund things,” Morikawa said.  Many projects approved by legislators, she said, take a while to have their funding released by the governor.

 

Sources: 1. The Garden Island.  Shrimp/Legislature Approves $1.3M in Bonds to Kekaha Shrimp Farm.  Léo Azambuja (phone 1-808--245-0452, email lazambuja@thegardenisland.com.  May 7, 2013.

 

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