Federal and P.E.I. fisheries ministers have announced more than $150,000 for the P.E.I. Fishermen's Association to conduct research on expanding the halibut industry.

Federal minister Gail Shea and provincial minister Ron MacKinley made the joint funding announcement Thursday in Summerside.

The research will look at whether halibut are a distinct population in the southern Gulf of St. Lawrence. The PEIFA will start research by tagging healthy halibut to study population size, life history and emigration.

The research will help the industry make decisions around management and growth.

The PEIFA and local fishermen's associations also contributed funding for the project.