Atlantic Fisheries Fund Investments Announced for the Newfoundland and Labrador Fishing Industry
December 16, 2020
This Government of Newfoundland and Labrador and the Government of Canada today announced strategic investments through the Atlantic Fisheries Fund to help the harvesting, processing and aquaculture sectors to innovate, invest in new technology, and collaborate with scientists, marketers, and other institutions to maximize the value of their products.
A total contribution of over $26 million is being invested in 134 projects which focus on modernizing technologies to improve quality of landings, and increase productivity and sustainability in Newfoundland and Labrador’s fish and seafood sector. Supporting the transition to groundfish, and sustainably growing the aquaculture sector continue to be key priorities. A complete list of projects announced today can be found here.
The $400 million Atlantic Fisheries Fund, jointly funded by the Federal and Provincial governments focuses on increasing opportunities and market value for sustainably sourced, high-quality fish and seafood products from Atlantic Canada.
Specifically for Newfoundland and Labrador, investments are being made in:
- Harvesting – 110 projects for fish harvesters, to invest in innovative equipment and technologies that will advance onboard handling techniques and increase productivity and quality of products for local enterprises.
- Processing – 17 projects targeting advancements in processing technologies, diversification and product quality to improve competitiveness, thus adding value to the industry.
- Aquaculture – 7 projects to support further growth of the salmonid and shellfish sectors, by investing in innovative technology to increase productivity, improve product quality and support growth in the supply and service sector.
Funding these important initiatives will help transform the provincial fish and seafood sector, resulting in a positive impact on communities and local economies.
The Atlantic Fisheries Fund will continue to invest in projects over the seven-year life of the program, which started in 2017. 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.
“Here in Newfoundland and Labrador the fishery employs more than 16,000 people in over 400 communities, and remains a significant contributor to the provincial economy. The Government of Newfoundland and Labrador and the Government of Canada share many of the same goals and objectives with respect to growing the seafood sector and supporting our rural communities. This provides me with the assurance going forward that together we can achieve our objectives.”
Honourable Elvis Loveless
Minister of Fisheries, Forestry and Agriculture
“Canada’s seafood sector has so much to gain from innovation and technology. The projects we are funding in Newfoundland and Labrador will help create jobs, increase productivity, and strengthen sustainability practices for the long-term. This is about ensuring the women and men of the fisheries can get the maximum value for their product – now and for generations to come.”
Honourable Bernadette Jordan
Minister of Fisheries, Oceans and the Canadian Coast Guard
“We’re making our province’s fishery more competitive and more sustainable by investing in new technology. This is how we create lasting economic opportunities here at home.”
Honourable Seamus O’Regan
Minister of Natural Resources and Member of Parliament for St. John’s South-Mount Pearl
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