November 12, 1999
(Fisheries and Aquaculture)

First round of projects announced under Fisheries Diversification Program

R. John Efford, Minister of Fisheries and Aquaculture, and George Baker, Minister of Veterans Affairs and Secretary of State for the Atlantic Canada Opportunities Agency (ACOA), today announced funding of $183,225 for the first four projects under the Fisheries Diversification Program.

The following initiatives received support: Green Seafoods of Trinity Bay, $69,300 for new product presentation for sea urchin roe; Polar Seafoods Ltd. Corner Brook, $64,800 for development, packaging and test marketing of secondary processed shrimp products; Newfoundland Aqua Products, Ramea, $39,000 for product development, packaging and promotion of seaweed based products; and the Centre for Aquaculture and Seafood Development, Marine Institute of Memorial University, $10,125 for research into producing silage from salmon and shrimp by-products.

"These projects will help strengthen rural economies of Newfoundland and Labrador that have been hit hard by the downturn in the traditional groundfishery," said Minister Baker. "We are looking forward to many other projects like these that are designed to help us achieve the greatest industry diversification opportunities for the future fishery."

Mr. Efford said: "These projects are great examples of what the Fisheries Diversification Program represents, which is to help us build on the diversification that is already taking place in our province=s fishery. The funding we have announced today will indeed play a role in moving our emerging fisheries forward and creating opportunities for long term economic growth."

The Fisheries Diversification Program is one component of the $81.25 million Canada-Newfoundland Agreement for the Economic Development Component of the Canadian Fisheries Adjustment and Restructuring Initiative announced in August 1999. The main thrust of the Fisheries Diversification Program is on industry-wide research and development and demonstration initiatives which will reflect the strategic economic development priorities and plans of many regional economic development boards throughout the province.

Media contact: Sonia Glover-Sullivan, Communications, (709) 729-3733.

1999 11 12                         4:50 p.m.