26 



time required before an enterprise recognizes a return on its in- 

 vestment. 



My final question to you is: During your investigation, were you 

 able to identify any creative approaches to dealing with this prob- 

 lem? 



Mr. Robinson. Well, I guess beyond using the structure that is 

 in place, clearly this is not the only fledgling industry that is strug- 

 gling with capital availability or has so over time. 



In some places like Mississippi, we understand, the credit prob- 

 lem is certainly less severe, so perhaps there are some lessons 

 learned the folks are doing in Mississippi to overcome the problem. 

 To the degree that they have overcome it, these lessons might be 

 transferable elsewhere. 



Also in the other industries that have faced this problem over 

 time, the lessons learned from those operations that they have used 

 to overcome it might be applicable as well. 



Senator Akaka. A bill to designed to aggressively promote aqua- 

 culture development has been long overdue. We all know the im- 

 portance of such a bill and the huge number of jobs that will result 

 from further growth in aquaculture. 



Again and again, I have heard that industry wants a bill to pro- 

 mote the commercialization and development of aquaculture in the 

 United States. We designed this bill to benefit industry. 



So let me address a few questions to the panel of*^the industry 

 people as a group, and please feel free for each of you to respond. 



Nearly one-quarter of global seafood consumption will come from 

 fish farming by the year 2000. Based on population projections and 

 assuming stable wild fishery harvests, world aquaculture produc- 

 tion must double by the end of this decade and increase sevenfold 

 in the next 35 years to keep pace with the rising demand for sea- 

 food. 



The potential for the growth of the aquaculture industry in the 

 United States is vast. Yet we rank tenth, as you mentioned, in the 

 world in the value of aquaculture production. 



As a Mississippian whose State has the largest acreage of aqua- 

 culture ponds in the U.S., I believe that Secretary Espy under- 

 stands well the potential of aquaculture. But I believe that the in- 

 dustry is still concerned about the willingness of the Clinton ad- 

 ministration to support the aquaculture industry in the United 

 States. 



And my first question is: What leadership would you like to see 

 President Clinton and his administration take to help provide for 

 the increased success of your industry and help provide for the fu- 

 ture aquaculture needs of the United States and the world? 



Mr. McCraren. Certainly continued support. Senator Akaka. We 

 do feel or we do know, I should say, that we have a President from 

 a leading aquaculture State, Arkansas obviously. We have a Sec- 

 retary of Agriculture from Mississippi. The Secretary is very famil- 

 iar certainly with aquaculture. And each of these gentlemen are 

 certainly very familiar with the benefits attendant with this indus- 

 try. 



We have seen — or I have seen, at least, in the past year rather 

 a change in attitude in this city, I think a positive one, towards 

 this industry, which I view as very good obviously. 



