Blue Star Foods Granted Option To Purchase Land For RAS Expansion In South Carolina; An Approximate Investment Of $11.41M
Portfolio Pulse from Happy Mohamed
Blue Star Foods Corp. (NASDAQ: BSFC) has received an option to purchase land for its Recirculatory Aquaculture Systems (RAS) expansion in South Carolina. The company is working with the South Carolina Department of Commerce on economic development and incentives for the crab project. Preliminary proposals offer up to $3 million in incentives. The land, costing approximately $11.41 million, will be used to construct a new facility and integrate a Crab Hatchery, making it the largest Soft Shell Crab facility on the eastern shore of the US.
June 30, 2023 | 12:34 pm
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Blue Star Foods Corp. is set to expand its operations in South Carolina, potentially benefiting from up to $3 million in incentives. The new facility, costing around $11.41 million, will enhance the company's production capabilities.
The news of Blue Star Foods Corp.'s expansion in South Carolina is directly relevant to the company and its investors. The potential incentives and the new facility will likely enhance the company's production capabilities, which could lead to increased revenues in the future. This could have a positive impact on the company's stock price in the short term.
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