Victoria, British Columbia - Canada and British Columbia's fish and seafood sector is evolving rapidly and needs the tools to adapt to changing market, environmental, and technological realities. Helping the industry innovate and reach new markets is central to keeping it competitive and resilient for the long term.
Today, the Honourable Joanne Thompson, Minister of Fisheries, the Honourable Randene Neill, British Columbia Minister of Water, Land, and Resource Stewardship and Minister Responsible for Fisheries, and the Honourable Lana Popham, British Columbia Minister of Agriculture and Food, announced the British Columbia Fisheries Fund (BCFF), with this joint Canada-British Columbia investment of $106.5 million over five years.
The BCFF builds on the success of the British Columbia Salmon Restoration and Innovation Fund (BCSRIF), and will continue to support the conservation and recovery of wild Pacific salmon. Wild Pacific salmon are woven into the economy and the culture of coastal and Indigenous communities across British Columbia. Protecting the habitat they depend on, remains central to the work the BCFF will support. Projects funded through BCFF will build on BCSRIF's work to restore and enhance salmon habitat to support British Columbia's fish and seafood sector.
Market development and diversification for the commercial fishing sector is a new pillar in this Fish Fund renewal, and responds directly to what the sector is saying: reaching new markets is essential to competitive and resilient fisheries.
The BCFF will support the sustainable, long-term growth of British Columbia's fish and seafood sector by increasing the value of products and strengthening their recognition in the marketplace. With the new market development and diversification pillar, the BCFF will boost commercial fisheries and seafood markets, all while continuing to prioritizing coastal marine stewardship, watershed restoration, and healthy aquatic and coastal ecosystems.
These investments will boost productivity and competitiveness, with a strong focus on opening new markets, supporting healthy oceans and watersheds, and adapting to changes in ecosystems. At a time when reaching new markets matters more than ever, this support helps the sector plan for a prosperous and sustainable future for the fishery.
The Fund is built on four pillars. To be eligible, projects must align with at least one of the following areas:
- Innovation - develop new products, processes, technologies or equipment that improve productivity, competitiveness, sustainability or market access in the sector;
- Infrastructure - adopt, adapt or install new processes, technologies or equipment that improve productivity, competitiveness, sustainability or market access in the sector;
- Scientific partnerships - improve knowledge or adaptive capacity in response to ecosystem changes and their impacts on commercial fisheries;
- Market development and diversification - contribute to expanding market access and diversification, both within Canada and internationally, by reducing the impact of trade barriers while supporting growth in the value of British Columbia seafood products.
