May 6, 2021 · Triton, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
Adapting to meet customer needs helps companies in Atlantic Canada’s ocean industries to stay competitive and grow their businesses. With that in mind, Mid-Island Marine and Fabrication Limited will expand by adding a new travel lift that can repair and service bigger fishing vessels, creating up to 10 new jobs.
Federal investment supports company’s growth
Scott Simms, Member of Parliament for Coast of Bays-Central-Notre Dame, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced a repayable contribution of $900,000 to Mid-Island Marine and Fabrication Limited.
Companies in the marine and aquaculture industries are increasingly using larger vessels that require heavier lift capacity for service and repairs. This investment will enable Mid-Island Marine and Fabrication Limited to replace its smaller lift with a new 300-tonne remote operated travel lift that can accommodate larger vessels. The new equipment, which should be in place by this summer, will increase the total number of vessels the company services.
Today’s announcement demonstrates the Government of Canada’s commitment to helping small- and medium-sized businesses grow, reach new markets and strengthen Atlantic Canada’s growing ocean economy.
“Our ocean industries create good jobs and are an important part of Atlantic Canada’s economy. Our investments in companies such as Mid-Island Marine and Fabrication help to position our ocean sectors for sustainable growth, while also supporting the development of strong, resilient coastal communities.”
– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA
“Mid-Island Marine and Fabrication operates a thriving business, creating economic activity that helps this province grow. We are committed to supporting local companies with their plans to upgrade and expand, so they can create jobs and be more competitive in the long-term.”
– Scott Simms, Member of Parliament for Coast of Bays-Central-Notre Dame
“Expansion of a new and larger travel lift will create more opportunities for aquaculture and fishery-related work in Newfoundland and Labrador, and Eastern Canada. It will also increase employment and revenue for the area.”
– Peter Winsor, President, Mid-Island Marine and Fabrication Limited
The funding announced today is provided through ACOA’s Regional Economic Growth through Innovation (REGI) program.
Based in Triton, Mid-Island Marine and Fabrication Limited operates a marine service facility with a lay down area, hydraulic and mechanical shop, welding and fiberglass shop. It also has specialized equipment including a travel lift, 23-tonne boom truck and scissors decks.
The company services a number of industries, including aquaculture, mining, fishing and construction. It has customers throughout Canada, the United States as well as in St. Pierre-et-Miquelon, France.
The Government of Canada is developing a Blue Economy Strategy to grow its ocean sectors through job creation, inclusion and conservation. Canadians are invited to share their views in an online engagement portal, which will collect diverse perspectives from coast to coast to coast, helping shape a strategy that will contribute to sustainable oceans, drive investment in ocean industries and create jobs in coastal communities as Canada charts its economic recovery from COVID-19. Online engagement is open until June 15, 2021.