Seafood industry in western P.E.I. receives $3.4M in aid from feds

·2 min read
The money is provided through the $62.5 million Canadian Seafood Stabilization Fund. (Krystalle Ramlakhan/CBC - image credit)
The money is provided through the $62.5 million Canadian Seafood Stabilization Fund. (Krystalle Ramlakhan/CBC - image credit)

The federal government is investing up to $3,461,798 in 12 initiatives throughout western P.E.I. to help the region's fish and seafood processing sector through challenges brought on by the COVID-19 pandemic.

The funding will help companies acquire new equipment to address health and safety measures in response to COVID-19 and improve automation and storage capacity, according to a news release.

The money is provided through the $62.5 million Canadian Seafood Stabilization Fund.

The six companies receiving money are:

  • Royal Star Foods Ltd. of Tignish, $1,043,097, which includes a $950,000 repayable contribution to support investment in capital projects to increase safety and expand product lines, and a $93,097 non-repayable contribution for support for personal protective equipment (PPE) and related expenses due to COVID-19.

  • South Shore Seafoods Ltd. of Bloomfield, $1,108,246, which includes a $585,000 repayable contribution to support the purchase of automation equipment, a $499,496 repayable contribution to support equipment upgrades to increase processing capacity, and a $23,750 non-repayable contribution to support the purchase of PPE due to COVID-19.

  • Summerside Seafood Supreme Inc., $527,879, which includes a $291,474 repayable contribution to acquire equipment to automate the lobster grading process and improve productivity, a $200,278 conditionally repayable contribution to acquire and adapt equipment to be responsive to changes in consumer demand due to COVID-19, and a $36,127 non-repayable contribution to acquire PPE to address health and safety measures.

  • Acadian Supreme Inc. of Wellington, $476,591, which includes a $452,432 repayable contribution to acquire equipment to address health and safety measures and increase productivity, and a $24,159 non-repayable contribution to acquire PPE to address health and safety measures.

  • High Tide Fisheries Ltd.of Alberton, a $286,500 repayable loan to support construction of cold storage facility to increase product capacity.

  • Annand Clams Inc. of Ellerslie, a $19,485 non-repayable contribution for purchase of PPE and related expenses due to COVID-19.

Last week, six companies in eastern P.E.I. received a total of $386,746 from the Canadian Seafood Stabilization Fund.

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