Nova Scotia has announced a new program that will see the province invest $570,000 over the next two years into the seafood industry in the province.
The fund, called the Seafood Accelerator Program, was announced by the province’s Minister of Fisheries and Aquaculture Keith Colwell.
Nova Scotia says the program will assist seafood companies to “improve current products, create new ones and look at new export markets.”
“Helping our producers bring their new and innovative ideas to life can make all the difference in creating growth and jobs in our rural communities,” said Colwell in the press release.
“These investments will help industry find opportunities to bring new products to market and increase the value of our seafood industry.”
The program will be broken down into three areas:
- A seafood market access food safety program that will issue $15,000 to help seafood companies take the Global Food Safety Initiative certification, allowing them to access new markets.
- A technical obstacles initiative which will issue $55,000 per year to help companies produce samples, improve packaging and extend shelf life.
- A new product creator initiative which will issue $55,000 per year to help companies develop new products and prototypes.
Nova Scotia is Canada’s seafood export leader, responsible for more than $2 billion or 29 per cent of Canada’s total seafood exports.
WATCH (Dec. 5, 2018): N.S. lobster industry headed for record year
The new fund comes from the previously announced Building Tomorrow Fund, a $9-million three-year program to invest in agriculture, fisheries and aquaculture.
The Seafood Accelerator Program will be managed by Perennia, Nova Scotia’s development agency for sustainability and competitiveness in the agriculture and seafood sectors.