The company officially opened its new $9 million fish processing plant at Triabunna on Monday.

The facility will turn 20,000 tonnes of by-product into fish oils and other protein products annually for interstate and overseas markets, creating 15 jobs for the region.

Tassal chief executive Mark Ryan said the facility provided a sustainable solution for the responsible management of fish by-product and achieved global best practice in fish by-product processing.

"The facility's best practice environmental control measures means odour, noise and wastewater emissions are minimised," Mr Ryan said.

"Importantly, Tassal is turning a waste product into high-value products, thus increasing the state's GDP in line with environmental best practice of reducing waste."

Mr Ryan said the company had development plans for farming in Spring Bay.

He said the company would expand its existing fin fish lease at Okehampton Bay in co-operation with Spring Bay Seafoods, and the development of appropriate supporting infrastructure.

"It is important to note that we are starting that engagement process with the local community today," he said.

The federal government contributed $3.85 million towards the processing facility, as part of the Tasmanian Jobs and Growth Package.

Lyons Liberal MHR Eric Hutchinson said the facility created 30 jobs during construction, and would provide long term economic benefits to the East Coast.

"The facility will receive salmon by-product from across the state and generate products such as high value added fish protein, fish oil, low grade fertilisers, pet food and aqua feeds to be sold through local and international markets," Mr Hutchinson said.