PEI

Seafood processors in central P.E.I. to receive more than $1.7M

The latest in a series of funding announcements to help seafood processors in Prince Edward Island weather the COVID-19 pandemic will see five companies in central P.E.I. access more than $1.76 million dollars from the federal government.

Money will fund 7 seafood storage projects with 5 companies

Raspberry Point Oysters in Charlottetown will receive almost $360,000 to help them get through the COVID-19 pandemic. (Raspberry Point Oysters)

The latest in a series of funding announcements to help seafood processors in Prince Edward Island weather the COVID-19 pandemic will see five companies in central P.E.I. access more than $1.76 million from the federal government.

Malpeque MP Wayne Easter made the announcement Friday in a written news release.  

The money comes from Fisheries and Oceans Canada's $62.5 million Seafood Stabilization Fund which launched in June 2020, of which ACOA is delivering $42.7 million in Atlantic Canada.

The five companies will use the money for seven projects, most of which are to build or expand storage for unsold product due to COVID-19. 

  • Atlantic Aqua Farms in Borden-Carleton: $1 million, repayable. 
  • Raspberry Point Oysters in Charlottetown: almost $360,000.
  • Captain Cookes Seafood in Borden-Carleton: just over $240,000. 
  • Future Seafoods in Fernwood: $150,000 repayable contribution.
  • Brackley Bay Oyster Company in West Covehead: $13,500 repayable.

Last week, the government announced six seafood processors in western P.E.I. would receive $3.4 million from the same fund. The week before that, six companies in eastern P.E.I. received almost $387,000.

In January, the government also announced $3.1 million for nine seafood processors' projects to improve efficiency, through the joint federal-provincial Atlantic Fisheries Fund.

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