Wellington, Prince Edward Island - With the longest coastline in the world, Canada’s coastal communities rely on the fish and seafood industry as an integral contributor to local and regional economies. This is why the Government of Canada and the Province of Prince Edward Island today announced funding support to three regional businesses through the Atlantic Fisheries Fund.
The funding—a total contribution of more than $365,000—will see the implementation of innovative projects and new technologies in the fishing industry.
Project Highlights
Acadian Supreme Inc. receives funding for the purchase of new equipment to help improve the effectiveness of lobster processing operations. Acadian Supreme Inc. provides good middle-class jobs to more than 95 people living in Prince Edward Island.
Royal Star Foods receives funding to develop new lobster products. Using an innovative process that will help ensure the quality of lobster is maintained from the time it leaves the fish plant to the consumer plate, Royal Star Foods will be better equipped to satisfy market demand. Royal Star Foods provides good middle-class jobs to more than 100 people living in Prince Edward Island.
Food Island Partnership Inc. will receive project funding to support seafood processors to develop and commercialize value-added seafood products and help them in seeking access to new markets and to enhance their existing markets. Through its work, Food Island Partnership Inc. supports good middle-class jobs in the seafood industry on Prince Edward Island.
Funding these organizations will result in a positive impact on local and regional economies. This investment will help the businesses develop and implement processes that boost the sustainability of their operations. The contribution derives from the $400 million Atlantic Fisheries Fund, jointly funded by the federal and provincial governments, and focuses on increasing opportunities and market value for sustainably sourced, high-quality fish and seafood products from Atlantic Canada.
The Atlantic Fisheries Fund will continue to invest in projects over the seven-year life of the program. The commercial fisheries and aquaculture industry, Indigenous groups, universities and academia and industry associations and organizations, including research institutions, may apply.
Eligible projects must focus on:
- Innovation – to support research and development of new innovations that contribute to sustainability of the fish and seafood sector, and to create partnerships and networks that aim to promote and encourage innovations in the sector;
- Infrastructure – to adopt or adapt new technologies, processes, or equipment to improve the effectiveness and sustainability of the fish and seafood sector;
- Science Partnerships – fisheries and aquaculture industry based partnerships with academia and institutions to enhance knowledge and understanding of the impacts of changing oceanographic conditions and sustainable harvesting technology.
Source : Government of Canada