The New Zealand government will use $924,000 (€812,674) of its $3 billion (€2.6 billion) Provincial Growth Fund to fund aquaculture and marine services in the Coromandel region, reports Stuff.

The country's Regional Economic Development Minister Shane Jones announced the news Wednesday, with aquaculture production in the area anticipated to double over the next 10 to 15 years, creating 550 new jobs.

Coromandel produces about 26 percent of New Zealand's greenshell mussels and 24 percent of Pacific oysters, according to the news site.