Executive Council
Fisheries and Aquaculture
January 26, 2015

Protecting the Future of the Seafood Sector

Federal Commitment to Fisheries Fund Vital to Industry Development

The Federal Government's commitment to participate in a cost-shared $400 million Fisheries Investment Fund will be vital to the provincial seafood industry's ability to navigate challenges that could impact Newfoundland and Labrador's economy. In the coming years local producers will need to maintain a strong position in global markets, but will have to do this while competing with other major producers around the world, managing a shift from shellfish to increased groundfish production, and addressing human resource challenges. For these reasons, the Provincial Government continues to press the Harper Government to keep a promise that affects the future of Newfoundlanders and Labradorians throughout the province.

"Our government agreed to relax our minimum processing requirements to make the nation's CETA deal with the European Union possible. We did that because we were promised a fund to help our seafood industry address challenges and seize opportunities. We are prepared to live up to our commitment, but Mr. Harper must live up to his."
- The Honourable Paul Davis, Premier of Newfoundland and Labrador

The Provincial Government has independently invested more than $62 million since 2006 to support the success of Newfoundland and Labrador's seafood sector. This includes:

• An investment of $16 million in the Fisheries Technology and New Opportunities Program, a commitment of $6.6 million to the Canadian Centre for Fisheries Innovation, and $5.2 million of industry support through the Research Development Corporation to help industry pursue innovations to stay competitive.
• A $15.1 million investment in the Centre for Fisheries Ecosystems Research and a $3.2 million investment in the Fisheries Research Program so that the industry can access vital fisheries science research that the Federal Government has been withdrawing from in recent years.
• Approximately $6.5 million to support national and international marketing initiatives.
• A commitment of more than $10 million for the Plant Worker Support Program to help keep the province's processing workforce active in the event of closures.

The Fisheries Investment Fund would significantly enhance opportunities to invest in these areas, and place the provincial seafood industry in a far better position to adapt to changing circumstances.

"Given the huge market opportunities and significant operational challenges that the provincial seafood sector will face in the next few years, industry players will need access to significant resources to adapt to new realities. The Fisheries Investment Fund that was promised by the Harper Government in exchange for our minimum processing requirements made those vital resources available. Processors and other business leaders throughout the province must recognize the implications of letting the Federal Government renege on its commitments - if we are left to go it alone, our economy will pay the price."
- The Honourable Vaughn Granter, Minister of Fisheries and Aquaculture

Although the Association of Seafood Producers has expressed the need to protect the tariff reductions achieved through CETA, even at the expense of the Fisheries Investment Fund, individual association members have approached the Provincial Government in recent months noting their need to access the fund to adapt to resource shifts that appear imminent.

QUICK FACTS

• Premier Davis and Minister Granter emphasized the importance of the Fisheries Investment Fund to the future success of the provincial seafood sector and the provincial economy today.
• The Fisheries Investment Fund includes five pillars of investment - research and development, new marketing initiatives, fisheries science, enhancements to provincial fisheries infrastructure, and workforce adjustment.
• More than 270 research and development projects have been made possible through the Fisheries Technology and New Opportunities Program that was created by the Provincial Government in 2007.
• The Provincial Government created the Centre for Fisheries Ecosystems Research within the Marine Institute in 2010 to provide unprecedented insights into trends involving provincial fish resources and marine environments.
• The Fisheries Research Program has supported 50 research partnerships with industry and academic groups.
• In 2013 the provincial seafood sector generated $1.1 billion in production value, and provided direct employment for more than 18,000 people, mainly in rural parts of the province.

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Media contacts:

Heather MacLean Director of Communications Office of the Premier 709 729 3581 heathermaclean@gov.nl.ca	Donna Ivey Special Assistant, Communications Office of the Premier 709 729 3551 donnaivey@gov.nl.ca
Jason Card Director of Communications Department of Fisheries and Aquaculture 709-729-3733, 699-0470 jasoncard@gov.nl.ca

2015 01 26                              3:15 p.m.