Funding worth $325 million for the fisheries and seafood sectors on Canada’s east coast has been announced by the Canada’s Fisheries Minister, Dominic LeBlanc, through the newly-established Atlantic Fisheries Fund.
Under the Atlantic Growth Strategy, the Government of Canada and the Atlantic provinces are collaborating to grow the region’s economy, including resource-based sectors, and build a vibrant future for Atlantic Canada. The Atlantic Fisheries Fund is a key component of this initiative, aimed at stimulating innovation, with a focus on growing opportunities and increasing their value to meet market demands for sustainably sourced, high quality fish and seafood products.
Judy Foote, Minister of Public Services and Procurement Canada, made the announcement in St John’s on Friday (March 10th) on behalf of Minister LeBlanc, stating that the fund aims to drive innovation in Canada’s fish and seafood sector. Innovation in this sector, which is integral to the region’s economy, means more jobs for fishers in hundreds of small coastal and Indigenous communities across the Atlantic Provinces.
This new investment under the Atlantic Growth Strategy will help strengthen the Atlantic economy and increase job opportunities for Atlantic Canadians. Funding for this new initiative is in addition to existing federally funded programs. The Government of Canada and the Atlantic Provinces will collaboratively develop parameters of the Atlantic Fisheries Fund. Engagement with Indigenous communities and stakeholders will contribute to shaping the program, developing partnerships and priority areas for investments in Canada. Further details on the Atlantic Fisheries Fund will be provided in the coming months.