**AWARDS ISSUED PRIOR TO JANUARY 20, 2025, WERE FUNDED UNDER PREVIOUS ADMINISTRATIONS AND MAY NOT REFLECT THE PRIORITIES AND POLICIES OF THE CURRENT ADMINISTRATION.** REALIZING NEW OPPORTUNITIES FOR GROWTH IN THE U.S. AQUACULTURE INDUSTRY REQUIRES GREATER ATTENTION TO MANAGING VARIOUS TYPES OF RISKS FACED BY AQUACULTURE PRODUCERS AND IDENTIFYING RISK MANAGEMENT STRATEGIES THAT ENHANCE THE RESILIENCY OF FISH FARMERS TO EXTERNAL SHOCKS. MOREOVER, NEW PRODUCERS AND INVESTORS NEED GUIDANCE REGARDING THE GREATEST RISKS IN VARIOUS SPECIES AND PRODUCTION SYSTEMS TO CHART OUT STRATEGIES TO SUCCESSFULLY NAVIGATE THE EARLY STARTUP YEARS. THIS PROJECT ADDRESSES THE PROGRAM AREA PRIORITY OF ECONOMIC RESEARCH FOR INCREASING COMMERCIAL AQUACULTURE PROFITABILITY THROUGH AN ANALYSIS OF RISK AND RISK MANAGEMENT STRATEGIES. ROBUST DATASETS FROM COMMERCIAL FARM SURVEYS OF MAJOR FINFISH SECTORS WILL PROVIDE A BASIS FOR A COMPREHENSIVE ANALYSIS OF CRITICAL RISK FACTORS AND EFFECTIVE RISK MANAGEMENT STRATEGIES FOR U.S. AQUACULTURE PRODUCERS. AT LEAST 30 RISK MODELS WILL BE DEVELOPED FOR CATFISH, TROUT, TILAPIA, HYBRID STRIPED BASS, RED DRUM, BAITFISH/SPORTFISH, AND MARINE SHRIMP IN THE PRODUCTION SYSTEMS USED BY U.S. PRODUCERS FOR COMMERCIAL PRODUCTION. THE RESULTS WILL BE COMPARED ACROSS SPECIES AND PRODUCTION SYSTEMS. SPECIFIC OBJECTIVES INCLUDE: 1) DEVELOP ECONOMIC RISK ANALYSIS MODELS FOR SEVEN U.S. AQUACULTURE SECTORS FOR THE MOST COMMONLY USED PRODUCTION SYSTEMS IN THE U.S.; 2) IDENTIFY THE RISK FACTORS THAT ARE MOST COMMON AND OF GREATEST ECONOMIC IMPORTANCE FOR FARM BUSINESSES IN THE SEVEN SECTORS SELECTED; 3) QUANTIFY AND COMPARE THE MOST COMMON AND MOST IMPORTANT RISKS AMONG THE SEVEN SECTORS AND PRODUCTION SYSTEMS SELECTED; AND 4) IDENTITY, MODEL, AND COMPARE THE POTENTIAL EFFECTIVENESS OF VARIOUS RISK MANAGEMENT STRATEGIES ACROSS THE AQUACULTURE SECTORS AND PRODUCTION SYSTEMS ANALYZED.