Nova Scotia Seafood Industry Nets $3.75m Investment
Nova Scotia will get provincial funding to help boost its seafood industry amidst the weakening economy, the Fisheries and Aquaculture and Economic Development departments announced yesterday.
Over the next three years, the Department of Fisheries and Aquaculture, in partnership with the Department of Economic Development, will invest $3.75 million in the seafood industry. The funds will be provided through the Community Development Trust Fund, which was established to help communities and workers hard hit by economic challenges.
"We want this program to provide lasting benefits for the industry and the province," says 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."
Funding will be available to seafood processors, harvesters, industry groups and organizations, seafood businesses and cooperatives. Businesses will be able to diversify into new export markets, adopt new technology and processing techniques, seek independent eco-certification of key fisheries and reduce the use of fossil duels in seafood production.