I rise in this Honourable House today to inform the public and members present of the success of the Fisheries Technology and New Opportunities Program. There has been an excellent response to the program from the fishing industry and its partners. This initiative is helping to facilitate fishing industry research and development.

Since its launch in the spring of 2007, it has generated a total of $21.4 million for fishing industry research and development in the province or more than three times the amount invested by our government. A total of 118 industry-driven projects have been funded since the program was created. Investment in the program has leveraged an additional $16.3 million from industry and its partners.

I would like to thank our partners in the industry who have worked with us on so many of these projects including the Fish, Food and Allied Workers; Association of Seafood Producers; Seafood Producers of Newfoundland and Labrador; and the Marine Institute.

The program has been a key component of many developments that have taken place in Newfoundland and Labrador's fishing industry. It has funded projects related to energy efficiency, safety, seafood marketing and product development. Using this program, the industry has been able to implement innovative projects that are leading to a more competitive fishing industry in the global marketplace.

One of the key areas supported under the program has been energy efficiency projects. As energy efficiency has become an increasingly important aspect of a more competitive and environmentally-friendly fishing industry, the program has contributed approximately $660,000 to help reduce energy costs and reduce the carbon footprint of the industry.

Our government is working with industry to build a future that is bright for young Newfoundlanders and Labradorians. We have funded projects that will change the way our industry works and enhance our reputation as a global leader in fisheries, oceans and marine research and development.

The Fisheries Technology and New Opportunities Program is a key provincial component of the Fishing Industry Renewal Strategy. Approximately $140 million has been committed to this strategy in an effort to revitalize the province's fishing industry. Building on the existing success of ongoing research and development, my department will continue to partner with the private sector and fishing industry stakeholders, to continue to grow and develop the industry.