Inland Sea launches $12 million equity drive

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Ames-based Inland Sea-Harlan LLC is seeking $12 million in equity capital for a proposed salmon production facility in Harlan. The 2-acre complex would produce an estimated 5.3 million pounds of salmon a year in tanks. A meeting for potential investors is planned at 1:30 p.m. Sept. 7 at the Community Choice Credit Union Convention Center in Des Moines. The $27.6 million production facility would need $7.5 million in cash flow before the first salmon are ready for market, and a $1 million harvest facility. Construction could begin this year, with the first harvest in 2018. Annual revenues are projected at $16 million to $20 million. Find more details and meeting dates online.