Renewal Program For Nova Scotia's Seafood Industry

Nova Scotia's seafood industry will get a major financial boost to support its competitiveness in a challenging global marketplace, the province announced today, Nov. 17.

The Department of Fisheries and Aquaculture, in partnership with the Department of Economic Development, will invest $3.75 million in the seafood industry over the next three years. The funds will be provided through the Community Development Trust Fund, which was established to help communities and workers hard hit by economic challenges.

Cost-shared funding will be used to diversify markets and develop new products, improve productivity and product quality and to meet consumer expectations about food sustainability.

"Nova Scotia is Canada's leading seafood exporting province and the industry provides thousands of jobs in our coastal communities; we want to keep it that way," said Fisheries and Aquaculture Minister Ron Chisholm. "The government recognizes the importance of the seafood sector to the province and the need for an industry driven renewal process to meet the current challenges."

Seafood producers are facing many challenges such as a weakening U.S. economy, increased global competition, higher production costs and changing consumer expectations.

Funding will be available to eligible applicants in three areas:

• diversifying into new export markets
• adopting new technology and processing techniques that enhance value and reduce costs
• seeking independent eco-certification of key fisheries and reducing the use of fossil fuels in seafood production

Support is available to seafood processors, harvesters, industry groups and organizations, seafood businesses and co-operatives.

"We want this program to provide lasting benefits for the industry and the province," said Jamie Muir, acting Minister of Economic Development. "We are focusing on projects that will enhance economic growth and competitiveness while encouraging partnerships among participants in the seafood sector."

Information is available at www.gov.ns.ca/fish/marine/ssrp .

More information on the Community Development Trust in Nova Scotia is available at www.gov.ns.ca/econ/cdtrust .