Fostering economic development on Fogo Island and beyond

From: Atlantic Canada Opportunities Agency

News release

Government of Canada invests in Shorefast Foundation

March 11, 2025 · Fogo Island, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)

Known for its stunning landscapes, rich cultural heritage, and deep-rooted traditions, Fogo Island has become a symbol of resilience and innovation. At the heart of the community’s economic and social revitalization is the Shorefast Foundation, a registered charity dedicated to creating lasting social and economic benefits for the community by fostering economic development, cultural preservation, and environmental stewardship.

Investing in local innovation and global connectivity

Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced a non-repayable contribution of $3 million to assist the Shorefast Foundation with its transformative project, the Shorefast Institute for Place-Based Economies.  This initiative will promote sustainable economic development in rural and remote communities, starting in Atlantic Canada, by empowering local leaders, entrepreneurs, and community organizations with the tools they need to create prosperous, inclusive economies.

Minister Hutchings also announced a non-repayable investment of $181,967 to assist the Shorefast Foundation with a sales and marketing campaign to increase tourism on Fogo Island and to help develop the international visitor market.

These investments will help Shorefast Foundation expand its projects across Atlantic Canada and beyond, while promoting Fogo Island as a world-class destination, attracting international visitors and increasing economic activity in the region.

Today’s announcement further demonstrates the Government of Canada’s committment to fostering innovation and sustainable economic growth, empowering communities across Newfoundland and Labrador and Atlantic Canada, and positioning Fogo Island as a key player in Canada’s tourism economy.

Quotes

“Through this investment in the Shorefast Foundation, your federal government, through ACOA, is stepping up to help give local leaders in rural and remote communities the tools they need to attract more visitors and build stronger economies that work for the people who live there.”

- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA

“After 20 years of community economic development practice on Fogo Island, we are excited to kick-off the Shorefast Institute and Network for Place-Based Economies. The Institute will engage with other enterprising communities in the region and beyond, to drive economic momentum in Canada and prosperity for more people, in more places. This meaningful contribution from ACOA and will be key to syndicating knowledge and tools as well as accelerating impact. This new initiative adds to our ongoing work to elevate Newfoundland and Labrador as a coveted destination on the world stage and further cement our reputation as pioneers of innovative and regenerative community-based tourism.”

 - Zita Cobb, Founder and CEO of the Shorefast Foundation, Innkeeper at Fogo Island Inn 

Quick facts

  • Shorefast is a Canadian registered charity established in 2004 by Zita Cobb and two of her siblings, Alan and Anthony Cobb, from Fogo Island, Newfoundland & Labrador, Canada.

  • Since the beginning, the charity’s goal has been to build economic and cultural resilience on Fogo Island, a 400 year-old outport fishing community critically impacted by the decline of the cod fishery and the related moratorium established in 1992.

  • Shorefast’s activities include a holistic set of initiatives and businesses based on Fogo Island that hold relevance to community economic development. Its practices are aimed at unleashing the power of place and building new models of place-based economic development.

  • Today’s investment is delivered through the Regional Economic Growth through Innovation (REGI) program. Through REGI, the Atlantic Canada Opportunities Agency (ACOA) is helping businesses and non-profit organizations develop a strong, dynamic and inclusive economy while creating the right conditions to start and grow businesses in Atlantic Canada.

Associated links

Contacts

Connor Burton
Press Secretary
Office of the Minister of Rural Economic Development and of the Atlantic Canada Opportunities Agency
Connor.Burton@acoa-apeca.gc.ca


Julie Afonso 
(Acting) Director of Communications
Atlantic Canada Opportunities Agency
709-743-5835
Julie.Afonso@acoa-apeca.gc.ca


Shorefast
Sorya Gaulin
Chief Marketing Officer
Shorefast & Fogo Island Inn
416-301-4012
soryagaulin@fogoislandinn.ca

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