SOUTHEAST CONFERENCE - PRINCE OF WALES, AK

MODELING A SHARED-USE MARICULTURE PROCESSING FACILITY

FINANCIAL MODELING, INFRASTRUCTURE PLANNING | 2023 - 2024

Alaska’s regional economic development organization, Southeast Conference (SEC), identified a need for processing infrastructure for the growing industry of kelp, shellfish, and other mariculture production in the state. SEC proposed a multi-user mariculture processing facility in Craig, Alaska on Prince of Wales island and contracted FWG to develop a business plan and model for the facility. FWG built on the work of SEC and subcontractor McKinley Research Group to analyze the needs of community stakeholders and prospective tenants. Gleaning knowledge from comparable facilities, FWG also developed case studies of multi-user and/or shared-use processing facilities, which are unique and innovative in the food processing industry. Finally, FWG developed a financial and facility modeling tool that made recommendations on business structure, ownership, and management for a financially viable and sustainable shared-use mariculture facility. This project continues to capitalize on demand for the facility, support sustainable long-term operations, and benefit the local community and Alaska’s mariculture industry.