Newfoundland and Labrador announced $400K Marketing Fund for the seafood sector

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The “Seafood Marketing and Innovation Fund” will support the expansion of the seafood sector and will create new jobs
13 August 2020 - SAFER  project
The Government of Newfoundland and Labrador (Canada), associate partner in the SAFER project, announced a $400,000 seafood marketing and innovation fund that will support the marketing of seafood products for retail and establish other markets for seafood sales of the impact of COVID-19 on restaurant sales.

The Minister of Fisheries and Land Resources, Gerry Byrne, said that “Our seafood industry has felt the impact of COVID-19 and we’re here to help our processors and aquaculture operators identify new markets, adapt existing products, and develop new products to meet changing customer needs leading to a rebound in seafood sales”.

The “Seafood Marketing and Innovation Fund” will help create new jobs in Newfoundland and Labrador’s fisheries and aquaculture sectors and will help processors and aquaculture operators expand their product lines and markets. According to Minister Byrne “Newfoundland and Labrador’s seafood sector is valued at approximately $1.4 billion and directly employs over 15,800 people in over 400 communities. The Provincial Government is committed to fostering continued growth in this important and expanding sector.” 

The $400,000 fund will help seafood sales rebound by allowing companies to identify new markets, adapt their existing products to new markets, and develop products and markets to meet changing customer needs. Derek Butler, Executive Director of the Association of Seafood Producers, explained that “This fund is another part of the suite of measures provided by government to allow all provincial producers to find ways to address those impacts and ensure a more prosperous industry for all participants and the province generally.”

The initiative of Newfoundland and Labrador Government is part of a plan to support renewable resource-based businesses and employment in rural communities during the COVID-19 global pandemic through investments in the forestry, agriculture, fisheries and aquaculture sectors.

Mark Lane, Executive Director of Newfoundland Aquaculture Industry Association, added “This program will support necessary strategic marketing initiatives to re-establish our premium seafood products throughout domestic and global markets”.

For further information:

Click here to email  Maixa Zabaleta at ERNACT for further information

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