$3M PRINCE EDWARD ISLAND SEAFOOD INVESTMENT

$3M Prince Edward Island seafood investment. The Government of Canada and the Province of Prince Edward Island are making strategic investments in the Island’s fish and seafood sector through the Atlantic Fisheries Fund.

The funding—a total contribution of more than $3.1million — invests in 9 projects that focus on the implementation of innovative technologies to improve productivity and sustainability within the aquaculture, harvesting and seafood processing sectors. It will enable these local organisations to be more efficient and adapt to meet market requirements.  The aquaculture, harvesting and seafood processing sectors contribute $590 million to the economy of PEI, and employ as many as a 8,000 people at peak production.

Funding these organizations will benefit local and regional economies in PEI now and in the future. The contribution comes 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, academia, industry associations and organizations, including research institutions, may apply.

Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard, said:

“In Atlantic Canada, our fisheries are more than just an industry, they’re an integral part of culture and our way of life. As the markets change, Canada’s seafood sector needs to adapt and grow with its consumers. Through the Atlantic Fisheries Fund, the Government of Canada and PEI are ensuring the industry has access to the latest innovations and technology. This is about making sure our Island fisheries are as sustainable, productive and prosperous as possible”

Jamie Fox, Prince Edward Island Minister of Fisheries and Communities, said:

“I am very proud of the hard work and resilience that our fisheries, aquaculture, and seafood processing industries have shown on Prince Edward Island throughout an extremely difficult year. I am confident that through projects made available by the Atlantic Fisheries Fund, these respective industries will continue to support the growth and success of our Island economy.”

Lawrence MacAulay, Minister of Veterans Affairs, Associate Minister of National Defence and Member of Parliament for Cardigan, said:

“Investing in our Province’s fisheries will allow Prince Edward Island the opportunity to continue to expand and support not only the small and rural communities on the Island, but the Canadian economy as a whole. These investments are a testament to the hard-working Islanders in our fish and seafood sector. When you succeed, we all succeed.”