P.E.I. seafood processors receive $365K in government funding
Funding split between Acadian Supreme Inc., Royal Star Foods and Food Island Partnership Inc.
The federal and provincial governments are supplying three Island organizations with a total of $365,000 to implement innovative projects and new technologies in the fishing industry.
"Many residents of rural P.E.I. are reliant on the land and sea as a way of life and as a source of income. Seafood processors are responsible for getting local products to markets around the globe, and deriving the value from the resource," said Charlottetown MP Sean Casey in a news release.
"These three projects funded by the Atlantic Fisheries Fund will support seafood processors in maximizing returns for seafood products and, in turn, will strengthen the economy and Prince Edward Island's rural communities."
The Atlantic Fisheries Fund is jointly funded by the federal and provincial governments, and aims to help Canada's seafood sector transition to meet growing market demands for products that are high quality, value-added, and sustainably sourced.
Acadian Supreme Inc., Royal Star Foods and Food Island Partnership Inc., will all receive funding to help improve their operations, by purchasing new equipment and developing new products.
The seafood sector is P.E.I.'s third largest industry, with an annual economic impact of more than $650 million to the provincial economy, employing close to 8,000 people.
"As a primary industry on Prince Edward Island, our fisheries and seafood sector is recognized globally for its quality which strengthens the economy in our rural communities," said Minister of Agriculture and Fisheries Robert Henderson in the release.
"Sustainability, innovation and science are vital to market access, and the province is pleased to see deserving projects on P.E.I. receive funding through the Atlantic Fisheries Fund to meet product demand."