The Canadian government has announced new investments in Prince Edward Island’s seafood sector and the broader maritime economy, including CAD 61 million (USD 43 million, EUR 41 million) for the province’s small craft harbors.
Canada is rolling out CAD 463 million (USD 329 million, EUR 312 million) over the next three years to improve the nation’s small craft harbors as part of the government’s Budget 2024 plan. On 13 November, the government announced that CAD 61 million of that funding would be dedicated to improving harbors around Prince Edward Island.
"Our fisheries and coastal communities are the lifeblood of Prince Edward Island and our small craft harbors are a key part of them,” Minister of Agriculture and Agri-Food Canada and Member of Parliament for Cardigan Laurence MacAulay said in a statement. “Today’s investment of CAD 61 million in federal funding is absolutely vital to keeping our province and the fishery strong and resilient for years to come.”
Funding will be spread across eight harbors, including Lower Montague, Covehead, North Rustico, Abrams Village, Higgins Shore, Red Head, Seacow Pond, and Tignish/Judes Point.
“We all know that the fishery is an extremely significant part of our economy,” Member of Parliament for Egmont Bobby Morrissey said in a statement. “Making sure that fishermen have the best possible infrastructure to earn a living and make their great contribution to our communities is of vital importance.”
The Canadian government also announced CAD 7.7 million (USD 5.5 million, EUR 5.2 million) in awards to support innovation and infrastructure improvements in the Prince Edward Island fish and seafood sector. The funding will be spread across 39 companies, who “are adopting new technologies and improving product quality, labor productivity, and processing techniques.”
“The continued growth and success of the seafood industry on the Island is vital for the families and communities in the sector,” MacAulay said in a statement. “These investments will help them continue to deliver the highest quality seafood products right here at home and across the world and improve the livelihoods of families in our communities for years to come.”
Money for the investments was made available through the Atlantic Fisheries Fund (AFF), a CAD 400 million (USD 284 million, EUR 269 million) program supported by the federal and provincial governments to support seafood production along the nation’s Atlantic coast. Projects must focus on innovation, infrastructure, or science partnerships to qualify for AFF funding.
“The Atlantic Fisheries Fund has been an important initiative working to transform and drive innovation in the fish and seafood sectors,” Prince Edward Island Minister of Fisheries, Tourism, Sport, and Culture Zack Bell said in a statement. “Prince Edward Island’s allocation has been almost fully subscribed, which shows the commitment of both levels of government and industry to move the industry forward. We need to maintain our momentum by continuing to invest in projects that support the sustainable development and growth of the seafood industry in Prince Edward Island.”
