The state government has approved a 20-hectare aquaculture lease off Hawks Nest, creating 15 new jobs.
The five-year lease will allow researchers to study marine species, including Yellowtail, Kingfish and Mulloway.
But cruise operators are concerned about whales and dolphins becoming entangled in the eight floating fish cages.
They also fear the leases will attract predators to areas where people swim with dolphins.
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