The port of Georgetown P.E.I. is looking for financial help to study an expansion of its port.

The port's board of directors says the community would be a great location for luxury yachts and small cruise ships, but it needs money from ACOA and the province to commission a study on the infrastructure change necessary.

Board member Perry Gotell said the community has a lot to offer high end tourists.

"We have one of the best natural harbours in Canada. It's good deep water there and the port is underutilized," said Gotell.

"We just want to try to bring it up to full potential and see where it goes from there. It's a great facility and it's just not being used."

The community is willing to kick in a third of the cash, he said, adding that it appears the province is ready to support the study. The group is now waiting to hear from ACOA about its application.