The Alaska Mariculture Cluster (AMC) and Spruce Root are offering a variety of resources to help Alaskans with planning for mariculture-related businesses. Spruce Root provides technical assistance, loan and financing programs, and more to establish, develop, and expand new and existing mariculture businesses in Alaska. Their offered services will further the business acumen of the state and help mariculture professionals grow their operations in seaweed farming, shellfish farming, and processing.

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Through its partnership with AMC, Spruce Root offers education and training, planning tools, business development support, and networking opportunities. Its Education & Training program includes a Kelp Farmer Immersion Business Training and Business Basics Workshops, both of which offer curated resources for new kelp and oyster farmers and processors.

Spruce Root’s mariculture Planning Tools primarily support kelp farmers and include a Breakeven Analysis Worksheet, which is a tool to help new kelp farmers estimate startup and operating costs, which is recommended as a starting point for prospective farmers. It also includes a Kelp Farm Financial Model, which is a detailed adapted financial planning tool, as well as a Catenary Cost Breakdown to help farmers understand key cost components for crucial farming infrastructure.

Another component of its business support, Spruce Root offers one-on-one support for interested farmers and processors. This personalized support is intended to turn mariculture business ideas into reality through detailed business planning, financial modelling, narrative writing, and targeted education. Through this one-on-one support, industry connections, events, and communications, Spruce Root is also prioritizing network expansion, seeking to connect mariculture business owners with one another and build a strong foundation for relationship-building.

Spruce Root is a subaward recipient of Southeast Conference and received $548,969 through the Revolving Loan Fund component project. It is using this funding to increase access to capital, stimulate private investment into the industry, and financing industry channels that spur job growth.

To learn more about any of these programs or to explore Spruce Root’s business planning resources, visit their website or email andrew@spruceroot.org.

Background

Southeast Conference (SEC) is the federally designated Economic Development District (EDD) for Southeast Alaska, as well as the state designated Alaska Regional Development Organization. SEC’s mission is to undertake and support activities that promote strong economies, sustainable communities, and a healthy environment in Southeast Alaska.

In September 2022, Southeast Conference was awarded a $49 million U.S. Economic Development Administration (EDA) Build Back Better Regional Challenge (BBBRC) grant to catalyze a viable and sustainable mariculture industry in Alaska, supporting the production of shellfish and seaweed, for the long-term benefit of the state’s economy, environment, and communities.

SEC leads the Alaska Mariculture Cluster (AMC) grant coalition, which includes members of Alaska’s mariculture industry, tribal organizations, regulatory agencies, university system, regional EDDs, trade organizations, and others. A Governance Body, composed of AMC coalition leaders and Tribal executives from each of the project regions, guides the grant’s work and equity metrics.

The AMC has complementary grant components designed to break down barriers and develop Alaska’s mariculture industry. The Overarching Narrative explains how the grant components work together to grow the industry in an equitable and responsible manner. The full project period for the AMC BBBRC project is October 1, 2022 to September 30th, 2026.