Ngāi Tahu and the Government have agreed to terms over a proposal to boost aquaculture in Southland.
The agreement is a significant step towards turning ocean farming into a multi-billion dollar industry off the coast of Rakiura/Stewart Island.
Ngāi Tahu has been advocating for rights in the marine aquaculture sector since the 1992 fisheries settlement, so the agreement has been a long time coming.
"The day has come, kei te whakapupuni a hau, I am filled with optimism," says Upoko o Awarua Tā Tipene O'Regan.
The iwi will still need to apply for resource consent in the area for any marine farming activity.
"We've got cool nutrient-rich waters and a decent environment for this sort of development," O'Regan adds.
The Government wants the New Zealand aquaculture industry to grow to $3 billion by 2035.
"It allows economic opportunities for the people of this place to be enabled out there on their back doorstep," says Minister of Conservation Kiri Allan.
Ngāi Tahu hopes projects like offshore salmon, seaweed or native species farming will lead to new jobs for Southlanders.
"It goes well-beyond Bluff Oysters, which are equally capable of aquaculture development, but it goes well beyond that to other species," O'Regan says.
It's a low emission industry that already employs 3000 people nationwide and generates over $650 million in revenue.
The Government says this will be the start of other aquaculture settlements around the country.
