Federal, regional partnership will boost fisheries sector
The benefits of a new $325 million federal government investment in Atlantic Canada’s fisheries and aquaculture will be felt by Prince Edward Island fishers and our entire economy.
The Government of Canada today announced the creation of an Atlantic Fisheries Fund to better meet growing market demand for sustainably sourced, high-quality fish and seafood. The fund will position the sector for greater future success by supporting national market access, creating middle-class jobs, and supporting coastal fishing communities.
“It has been decades since funding of this magnitude has been announced for our fishery and aquaculture sector,” Agriculture and Fisheries Minister Alan McIsaac said. “We welcome this federal and regional partnership, which will provide an economic boost to one of province’s primary industries and to rural communities across Prince Edward Island.”
The Atlantic Fisheries Fund will be a partnership between the Government of Canada and Atlantic provinces. The Government of Canada will work with the provinces to identify, prioritize, and cost-share projects that will improve seafood quality and sustainability and make the sector more prosperous.
A portion of the fund will also help the fish and seafood sector across Canada develop existing markets and access emerging markets.
Fisheries and aquaculture in Prince Edward Island has a value of approximately $400 million to the provincial economy and is 3 per cent of our provincial GDP. The industry is the economic driver in many rural communities, employing more than 8,500 people in peak season.
Department of Agriculture and Fisheries