Technical Abstract: Conventional treatment alternatives for phosphorus in wastewater, whether they employ chemical precipitation, physical removal, or land application technologies, represent a significant addition cost to the owner of an aquaculture operation. Only plant-based removal of nutrients has the potential to generate additional revenues, which can offset treatment costs. The objective of this analysis was to describe the economic relationship between a 22,680-kg per year recirculating trout production system and a hydroponic treatment unit capable of reducing phosphorus concentration levels in the fish farm effluent to less than 0.1 mg/L. The integration of the fish and plant production system produces cost savings over either system alone. Shared cost savings come from spreading out operating costs (e.g. labor and management, water, nutrients, and overhead charges) and capital costs (e.g. backup generator, used truck, and office equipment) over the two systems. System integration reduces the combined capital and operating costs by about 12 and 16%, respectively. The investment analysis demonstrates the profitability of this combined system over 10 years. Net present value analysis shows positive returns after year 5. The results of the internal rate of return analysis shows that for a total investment of $254,748 this system can potentially provide a return of 10-24% for project lengths of 5-10 years. The greenhouse economics clearly drive the system with a significantly higher potential return on investment (about 80% higher revenue with similar capital and operating costs) than the fish system alone.