To bolster the $5.5 million Rhode Island aquaculture industry, two University of Rhode Island professors are developing the first aquaculture database in the state. The information from the database will be made available through URI and the New England Aquaculture Association to various lending institutions when they decide whether to make lending decisions to aquaculture firms.
The database includes lists of financial measures and ratios, such as sales and costs of goods sold, from various acquaculture firms in the Northeast.
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“Without this sort of information available to lending institutions, it’s hard for them to evaluate business operations at these aquaculture firms and make what they believe are sound investment decisions,” said Robert Comerford, a URI professor of management. Comerford and Michael Rice, professor and chair of the department of fisheries, animal and veterinary science at the university are working on the database project.
