To support these new projects within local communities, the Government of Canada and the Province of New Brunswick announced funding for nine projects totaling $13,350,111 through the Atlantic Fisheries Fund (AFF) that will strengthen the fisheries of New Brunswick for years to come.

The breakdown of this funding is as follows:

• $3,484,815 for the Fédération régionale acadienne des pêcheurs professionnels Inc.
• $879,936 for True North Salmon Limited Partnership et Cooke Aquaculture Inc.
• $3,000,000 for Benson Lobster Co Ltd
• $1,417,500 for Kelly Cove Salmon Ltd et Cooke Aquaculture Inc.
• $1,830,000 for Island Fishermen’s Co-operative Association Ltd
• $1,053,000 for North Taste Flavorings Inc.
• $547,584 for Pêcheries Bas-Caraquet Fisheries Inc.
• $681,192 for Ichiboshi L.P.C Ltd
• $456,084 for Clover Leaf Seafoods Corp.

McGraw Seafoods Ltd. has also received funding support from AFF, which will be made public at a future date.

The contribution is from the $400 million AFF, funded by the federal and provincial governments. The AFF focuses on increasing opportunities and market value for sustainably sourced, high-quality fish and seafood products from Atlantic Canada. Introduced in 2017, the AFF will continue to invest in projects until March 31, 2026, at which time all projects receiving funding must be completed. The commercial fisheries and aquaculture industry, Indigenous groups, universities and academia, and industry associations and organizations, including research institutions, may apply for funding.

“The fisheries and seafood processing industry is undergoing a period of transition, and our government will always be there to support our fishers and businesses as they adapt. Through the Atlantic Fisheries Fund, we are investing in innovation, sustainability, and economic growth for our coastal communities. The projects announced today will help New Brunswick businesses modernize their infrastructure, enhance their competitiveness, and strengthen the future of our fisheries sector,” said Serge Cormier, Member of Parliament for Acadie―Bathurst, New Brunswick.

“This investment supports the transition of our northern fishery, ensuring the continued supply of high-quality, sustainably sourced seafood from Atlantic Canada. We are pleased to collaborate with our federal partners to help industry adapt, creating economic opportunities for our coastal communities,” commented the Honorable Pat Finnigan, Minister of Agriculture, Aquaculture and Fisheries, Province of New Brunswick.

Quick Facts

• The Atlantic Fisheries Fund will invest over $400 million over seven years to support Canada’s fish and seafood sector.
• The federal government will provide 70% of the funding, with 30% coming from the Atlantic provinces.
• The fund aims to help Canada’s seafood sector transition to meet growing market demands for products that are high quality, value-added, and sustainably sourced.
• Eligible projects must focus on:
  • Innovation – to support research and development of new innovations that contribute to sustainability of the fish and seafood sector, and to create partnerships and networks that aim to promote and encourage innovations in the sector;
  • Infrastructure – to adopt or adapt new technologies, processes, or equipment to improve the effectiveness and sustainability of the fish and seafood sector;
  • Science Partnerships – fisheries and aquaculture industry-based partnerships with academia and institutions to enhance knowledge and understanding of the impacts of changing oceanographic conditions and sustainable harvesting technology.
• Since 2017, the Government of Canada and the Province of New Brunswick have provided over $112 million in funding to 260 recipients in the fish and seafood sector via the Atlantic Fisheries Fund (AFF).