The Provincial Government will provide funding of $13,600 for a raw shrimp processing technology and innovation project. This project is being undertaken through a partnership of the Department of Fisheries and Aquaculture, Ocean Choice International (OCI), the Canadian Centre for Fisheries Innovation (CCGI) and the Marine Institute�s Centre for Aquaculture and Seafood Development. This project is being funded through the Fisheries Technology and New Opportunities Program which is part of the Fishing Industry Renewal Strategy.

"Our government is committed to the development of new seafood products in the fishing industry and the opening up of new markets for our provincial products in the global environment," said the Honourable Trevor Taylor, Acting Minister of Fisheries and Aquaculture. "This research initiative works toward accomplishing both of those goals, so it is an ideal fit for the department to fund at this time."

Market research by OCI has identified a demand for raw, peeled shrimp products in both the United States and Europe. The research will help the company to identify the best products and processing methods in order to develop potential new market opportunities. It will also assist with the identification of the best methods for marketing and promoting the new products in the areas of package design and market presentation.

"OCI are to be commended for its product development and diversification efforts with respect to coldwater shrimp," said Carey Bonnell, Managing Director of the Canadian Centre for Fisheries Innovation. "The need for innovative marketing efforts was a key conclusion coming out of the Atlantic Coldwater Shrimp Conference held in St. John�s in January and OCI is acting on this recommendation."

"At OCI, our focus is to continue making strategic investments that ensure our fishing industry is both competitive and viable in the global market place," said Martin Sullivan, President of OCI. "With the increased challenges we face in today�s fishery from global competitors, we believe OCI has an obligation to our employees and customers to explore initiatives to create a better fishery for the people and province of Newfoundland and Labrador."

"The Provincial Government is pleased to see a local producer using this program to explore opportunities to better market our provincial seafood products to international markets," said Minister Taylor. "It is initiatives such as this that will advance our fishing industry into the future and enable it to continue competing at a world-class level."

The Provincial Government has allocated $6 million over three years for research and development projects under the Fisheries Technology and New Opportunities Program. Budget 2008 allocated $2 million for this year. To date, more than $1 million in project funding has been approved under the program.

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