Kentucky is continuing to grow as an agri-tech hub. Recently, AquaBounty Technologies, Inc.announced Mayfield, Kentucky as the potential location for its third farm specializing in AquAdvantage salmon.
AquaBounty is a land-based aquaculture company using technology to enhance sustainability and productivity. The new Mayfield location will be the company’s first large-scale commercial operation with an estimated 10,000 metric ton production capacity, which is about eight times the production capacity at an existing location in Albany, Indiana.
Mayfield sits as the leading location in a nationwide search based on multiple factors, which included sufficient wastewater volume, low electricity prices, proximity to major population centers, availability of skilled labor pools and a stable political environment.
“We are pleased to have identified a site in Mayfield as meeting or exceeding all selection criteria for our third farm,” said Sylvia Wulf, CEO of AquaBounty. “The Graves County community and site location met all suitability and technical requirements. At both the state and local level, we found a welcome economic environment and favorable incentives for our business.”
The company expects construction to begin in 2021 and commercial production to begin in 2023. The farm will bring 70 to 90 new jobs to the region.
The growing agritech trend in Kentucky provides a glimpse of the sustainable change and future of the agriculture industry. Along with AquaBounty, companies like AppHarvest, an applied technology company building indoor farms in Appalachia, are leading the way trying to reduce environmental impact.
“This milestone positions AquaBounty to rapidly expand our geographic footprint and meet our long-term production goals, creating value for our shareholders,” Wulf said.