Eastern Prince Edward Island’s fish and seafood processors get support from Canadian Seafood Stabilization Fund

From: Atlantic Canada Opportunities Agency

Backgrounder

Atlantic Canada’s fish and seafood sector has faced significant challenges and financial hardship since the downturn in the economy due to COVID-19. That is why the Government of Canada is helping fish and seafood processors navigate these difficult times with support through the Canadian Seafood Stabilization Fund.

An initiative of Fisheries and Oceans Canada, the $62.5 million fund is being delivered by Canada’s Regional Development Agencies. ACOA is delivering $42.7 million in Atlantic Canada.

Today, the Honourable Lawrence MacAulay, Minister of Veterans Affairs and Member of Parliament for Cardigan, announced a total investment of up to $386,746 for six projects with six companies. This investment will help fish and seafood processors in Eastern Prince Edward Island weather the pandemic and prepare for a strong economic recovery, so that their communities can continue to thrive. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA.

Seafood 2000 Ltd.

$151,950 non-repayable

Georgetown, PEI

Acquire new equipment to address health and safety measures to enhance worker safety in response to COVID-19.

Beach Point Processing Company

$87,514 non-repayable

Beach Point, PEI

Acquire new equipment to address health and safety measures to enhance worker safety in response to COVID-19.

Atlantic Shellfish Products Inc.

$73,053 repayable

Morell, PEI

Implement an innovative marketing strategy to help alleviate effects caused by COVID-19.

One Tuna Inc.

$44,181 repayable

North Lake, PEI

Increase short-term cold storage needs

PEI Mussel King Inc.

$17,297 non-repayable

Morell, PEI

Acquire new equipment to address health and safety measures to enhance worker safety in response to COVID-19

Belle River Enterprises Ltd.

$12,750 non-repayable

Belle River, PEI

Acquire new equipment to address health and safety measures to enhance worker safety in response to COVID-19

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