Seafood processors in central P.E.I. to receive more than $1.7M
Money will fund 7 seafood storage projects with 5 companies
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.