The salmon farming industry in southwestern New Brunswick, Bay of Fundy began in 1978. There are now 92 marine finfish farm leases within a 60x60km area; 45 of these leases were actively growing Atlantic salmon in floating net cages in 2012. Salmon production peaked in 2002 at 38,900metric tons. Annual production during 2007-2012 was 21,560-30,220metric tons, with a value of US$140-185 million. Farm sizes have increased considerably since 1978; during this time there has also been consolidation of industry ownership. All currently operating companies are locally owned. The industry has faced numerous challenges, including fish health problems, coastal zone conflicts, environmental concerns, and economic issues. Initially, lease applications were evaluated on a site-by-site basis, and most farms were multi-year-class operations, stocking every year. Farms are now operated within a framework of Aquaculture Bay Management Areas, and all farms are single-year-class operations, stocking every three years, with mandatory fallowing between successive crops. Steps have been taken toward managing aquaculture within an integrated coastal zone management context.