Through an investment of $80,000 from the Government of Canada’s Economic Action Plan (EAP), Innovative Ideas Inc. of Fogo Island will train four individuals in the manufacturing of the Fogo Island Cod Pot – an innovative product that will lead to improved methods for the harvesting, processing and marketing of cod.
The announcement was made today by the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway. The project funding is provided through the Community Adjustment Fund (CAF), a key economic stimulus initiative of the EAP.
“Our government is pleased to invest stimulus funds to support new and leading-edge manufacturing and processing approaches in traditional industries like the fishery,” said Minister Ashfield. “With increased interest in this new cod pot technology, it is particularly timely to train people in the manufacturing process in order to position operations like Innovative Ideas to capitalize on opportunities for growth.”
Innovative Ideas Inc. will hire technical expertise through the Fisheries and Marine Institute of Memorial University of Newfoundland to provide the on-site training.
The use of baited cod pots results in harvesting higher quality cod due to the technology which allows the cod to be caught alive and bled at sea, resulting in a very white, cleaner product which commands a higher price. These pots also make the fishery more sustainable as they do not damage the sea bottom.
The Community Adjustment Fund is an economic stimulus initiative that is providing $1 billion over two years to help create jobs and sustain employment in communities impacted by the global economic downturn. Atlantic Canada’s allocation of $100 million under CAF is administered by the Atlantic Canada Opportunities Agency.
For information on Canada's Economic Action Plan, please visit www.actionplan.gc.ca.
FOR BROADCAST USE:
The Government of Canada is investing $80,000 to allow training in the manufacturing of the Fogo Island Cod Pot – an innovative product that will lead to improved methods for the harvesting, processing and marketing of cod.
The ACOA funding comes from the Community Adjustment Fund (CAF) – a key economic stimulus initiative under the Government of Canada’s Economic Action Plan.
The funding was announced today by the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway.
– 30 –
INFORMATION:
Doug Burgess
Director, Public Affairs
ACOA
709-772-2935
