The Governments of Canada and Nova Scotia are supporting economic development in the historic fishing port of Canso. The investment into the expansion of Canso Seafoods Limited will allow the company to establish a secondary seafood processing facility that will generate significant economic growth and help preserve a traditional industry for the community.
"As the global economic recovery gathers momentum, our support for the investment that Canso Seafoods is making in this new processing facility is all about ensuring that this seaport is positioned to win in new markets and to grow," said the Honourable Peter MacKay, Minister of Defence on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway. "The economy is our government's top priority and supporting initiatives that target the development of new opportunities for industry growth is an investment in the future of those industries; the jobs they generate and the communities they are part of.."
Funding from the Government of Canada will help the company build a new seafood depot serving Canso and the surrounding area. The processing facility will produce "value added" seafood products from harvested raw material such as lobster, crab, shrimp and groundfish. The new products will target international markets.
The Government of Canada is providing Canso Seafoods with a repayable loan of $500,000 through the Community Adjustment Fund (CAF) a key economic stimulus initiative of Canada's Economic Action Plan. The funding is being delivered through ACOA's Business Development Program (BDP). The Government of Nova Scotia is contributing an additional $300,000 to the project, while Canso Seafoods Limited shareholders are injecting a further $675,000.
In total, $1 475 000 is being invested in Canso Seafoods and the community.
"The province is very pleased to see this development at Canso proceed as part of creating good jobs and growing the economy in Nova Scotia," said Sterling Belliveau, Minister of Fisheries and Aquaculture. "In addition to our 300,000 contribution, we worked hard to rejuvenate and improve the wharf facilities at Canso for inshore fishermen and allow the development of the seafood depot and future processing operations."
"Canso has relied on the livelihood provided by the sea for well over 400 years," said Jim Kennedy, President of Louisbourg Seafoods. "Through the inherent knowledge and experience passed down from generation to generation, coupled with the support of community, industry and governments of Canada and Nova Scotia, we will be able to build upon this tradition-creating jobs and engaging the community to create a successful sustainable future."
FOR BROADCAST USE:
The federal and provincial governments are jointly investing $800,000 to support Canso Seafoods Limited as they establish a secondary seafood processing facility in the historic fishing port of Canso. In making the announcement, Defence Minister Peter MacKay said the project will help sustain and create jobs and other employment opportunities in an area. The new processing facility will produce "value added" seafood products from harvested raw material such as lobster, crab, shrimp and groundfish for export to targeted international markets
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INFORMATION:
Christopher Brooks
Manager, Communications and Outreach
Atlantic Canada Opportunities Agency
902-426-4790/902- 789-5184 (cell)
Email : Chris.Brooks@acoa-apeca.gc.ca
