Water, which is the subject of conflict between consumer sectors (multiple uses), has a crucial role in semi-arid regions, where its scarcity requires efficient use strategies. This study analyzed the potential of agricultural production in an alluvial aquifer in the Brazilian semiarid region, using economic and financial indicators. The research focused on the Morada Nova Irrigation Project (MNIP), in the State of Cear & aacute;, Brazil, with a view to characterizing the agricultural production activities and the profile of producers in the region under study. Primary data were collected through questionnaires applied to irrigating farmers and producers who work in rice and shrimp production. The questionnaires consisted of a set of quantitative variables related to the activities, with the objective of collecting information on the characteristics and production data. From the results, it was found that the activities analyzed are economically viable and allow permanence in either the short term or the long term. The ongoing change of scenario (transition from rice cultivation to shrimp farming) suggests that a large part of small producers, including those who traditionally cultivate rice, have been partially excluded from the production process, in view of the demand for high initial investment and the total costs associated with shrimp farming. Based on the analysis of rice and shrimp farming, it is inferred that new management strategies are needed, especially the reuse of water in shrimp farming, to ensure the continuity of the socioeconomic growth of the region.