As the eighth annual Ocean Week kicks-off, Newfoundland and Labrador's ocean technology sector is enjoying a positive swing in momentum with the value of the local industry climbing to more than $500 million. Ocean Week (October 17-23) acknowledges and celebrates the achievements of those engaged in ocean-related industries.

"This is an incredibly exciting period for the companies and organizations that make up Newfoundland and Labrador's ocean technology sector," said the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. "The wave of positive activity being experienced can be attributed to the innovative nature of the local sector and their commitment to positioning the province as a global leader in ocean technology development. As Ocean Week begins, I'd like to congratulate all those associated with the ocean technology sector and wish them the best of luck in continuing this momentum."

Ocean Week gets underway as the province hosts Ocean Innovation 2010: Underwater Vehicles, an international conference of government, industry, academic, and regulatory bodies, which is taking place at the Delta Hotel in St. John's until October 20.

Minister Skinner is also pleased to note that St. John's has been confirmed as host of OCEANS 2014 Marine Technology Society/Institute of Electrical and Electronics Engineers conference and trade show — a preeminent industry forum that attracts between 1,500-2,000 international delegates from the ocean technology sector.

"We are beyond thrilled that St. John's has been selected as the site for OCEANS 2014," said Dennis O'Keefe, Mayor, City of St. John's. 　"This conference offers a significant opportunity for our ocean technology companies and institutes to showcase their capabilities on the world stage. 　Our success in securing this event is proof that Newfoundland and Labrador is now a global leader in ocean technology."

As highlighted in Oceans of Opportunity, a five-year, $28 million strategy, the Provincial Government is committed to working with its partners to accelerate the growth of the sector to $1 billion by 2015.

"While success is clearly being realized, the Provincial Government believes that the industry has much greater untapped potential," said Minister Skinner. "With continued collaboration between industry, government, and academia, we can continue to advance this important industry. It holds considerable prospects for Newfoundlanders and Labradorians seeking careers in such exciting fields as ocean observation, climate change, and offshore energy."

- 30 -

Media contacts: