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Government of Canada and Province of Prince Edward Island invest more than $3M in the fish and seafood sector

Charlottetown, Prince Edward Island - Canada’s fisheries are the backbone of many coastal communities and a driving force in our national economy. The seafood sector is a rapidly shifting environment – competition is intensifying, consumers are looking for sustainability and quality. That is why 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 organizations 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.
Source : Canada.ca

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