Company to Assess New Opportunities for Ocean Perch with Provincial Funding

The Provincial Government is providing $18,600 to support the efforts of GB Seafoods International Limited of Gaultois to develop new and lucrative opportunities for the ocean perch resource in Newfoundland and Labrador. The funds have been made available under the Fisheries Technology and New Opportunities Program.

�Developing new opportunities for our seafood products is critical to our success in the global fishery,� said the Honourable Trevor Taylor, Acting Minister of Fisheries and Aquaculture. �Ocean perch has proven to be challenging economically, given that much of the fish is too small to effectively process and sell using traditional product forms and markets. Further research and development in each of these areas can assist in enhancing the value of this resource, and I am certainly pleased to support the company in these efforts.�

GB Seafoods will hire a consulting company to explore new product and market opportunities for ocean perch such that the resource can be better utilized. The project will involve liaising with potential customers to determine market demand and the types of product forms that are attractive to various markets.

"I am extremely pleased that our rural communities such as Gaultois are pursuing innovative ideas for today's fishery, which remains a key employer in the Fortune Bay - Cape La Hune area,� said Tracey Perry, MHA for Fortune Bay - Cape La Hune. �Our government is committed to working with communities and companies to build a solid future for the fishery."

To date, more than $1 million has been approved under the Fisheries Technology and New Opportunities Program. Through this funding, various projects in the harvesting, processing and marketing sectors have been initiated.

�It is tremendous to see projects in all sectors of the industry move forward as a result of this program,� said Minister Taylor. �As we attempt to strengthen and diversify our fishing industry, it is critical that we involve all sectors collectively. Our government is pleased to provide this support, and we acknowledge the efforts of all industry participants who are finding new and productive ways to use this new program.�

The Provincial Government has allocated $6 million over three years for the Fisheries Technology and New Opportunities Program. This includes $2 million in Budget 2008. The program is part of a series of provincial initiatives that were created under the Fishing Industry Renewal Strategy. The objective of the program is to achieve the best possible returns to the industry, in the harvesting, processing and marketing sectors.

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Media contact:
Lori Lee Oates
Director of Fisheries and Aquaculture
Department of Fisheries and Aquaculture
709-729-3733, 690-8403
oatesll@gov.nl.ca