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

Backgrounder

May 27, 2021 · Malpeque, Prince Edward Island · Atlantic Canada Opportunities Agency (ACOA)

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 Wayne Easter, Member of Parliament for Malpeque, announced a total investment of $1,761,290 for seven projects with five companies. This investment will help fish and seafood processors in Central 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.

Atlantic Aqua Farms Ltd.
$1,000,000 repayable

Borden-Carleton, PEI
Support for expansion of oyster storage for excess inventory due to COVID-19.

Raspberry Point Oyster Co. Inc.
$357,745  

Charlottetown, PEI

  • $2,250 non-repayable contribution to acquire personal protective equipment (PPE) to address health and safety measures.
  • $355,495 repayable contribution to acquire oyster storage equipment, and market development in response to COVID-19.

Captain Cookes Seafood Inc.
$240,045

Borden-Carleton, PEI

  • $15,045 non-repayable contribution to support purchase of PPE due to COVID-19.
  • $225,000 repayable contribution to increase storage capacity to more effectively deal with raw materials and inventory.

Future Seafoods Inc.                                                                       
$150,000 repayable

Fernwood, PEI 
To increase storage capacity to more effectively deal with raw materials and inventory.

Brackley Bay Oyster Company Inc.                                                 
$13,500 repayable

West Covehead, PEI
Support to increase storage capacity.

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Contacts

Catherine Mounier-Desrochers
Press Secretary
Office of the Minister of Economic
Development and Official Languages
Catherine.Mounier-Desrochers@canada.ca

Jane Deeks
Press Secretary
Office of the Minister of Fisheries, Oceans and the Canadian Coast Guard
343-550-9594
jane.deeks@dfo-mpo.gc.ca

Jana Parker
Communications Manager
Atlantic Canada Opportunities Agency
jana.parker@acoa-apeca.gc.ca  

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