The provincial government has approved approximately $1.8 million so far this year as part of the $2-million seafood innovation and transition program for 2017-18.
To date, applications from 62 projects have been approved for funding, up from 37 the previous year.
“Last year, the production value of our seafood sector reached yet another record high, exceeding $1.4 billion,” Fisheries and Land Resources Minister Gerry Byrne said in a news release.
“We have committed to expanding the industry in a sustainable manner. By supporting innovation and modernization, we are on track to even greater successes in the future as we transition to a more diversified and groundfish-based industry.”
Projects under the program focus on technologies and innovations in harvesting, processing, aquaculture and marketing with a key emphasis on the fishing industry’s transition from a mainly shellfish fishery to a groundfish fishery.
Source: The Packet