Feds have investment program ready for the Canadian Fishery

The Canadian Fishing industry is in line for some financial assistance from the
Federal government, though at the moment it's not known how much of that
cash will make its way to the North Coast

The latest in Federal economic measures in response to the COVID-19 emergency will be directed towards the nations Seafood industry, with Minister Bernadette Jordan announcing the background to the 62.5 million dollar program on Saturday.

The Minister of Fisheries, Oceans and Canadian Coast Guard participated in Saturday's Ministerial briefings and as part of her presentation during the morning briefing relayed how the Canadian Seafood Stabilization Fund will help the nations' fish processors.

Among some of the elements of the program:

Access short-term financing to pay for maintenance and inventory costs
Add storage capacity for unsold product
Comply with new health and safety measures for workers;
Support new manufacturing/automated technologies to improve productivity and quality of finished seafood products
Adapt products to respond to changing requirements and new market demands.

On the West coast, the funding will be delivered through the offices of Western Economic Diversification Canada, the process of application for assistance from industry is to be explained further at a later date.

“The women and men in our fish and seafood sector have been feeding this country for generations. Through the new Canadian Seafood Stabilization Fund, our government is investing directly into this sector, ensuring the industry has the support it needs to adapt to current realities brought on by COVID-19. Bolstering our processing sector is vital to supporting fish harvesters and feeding Canadians.” --  Bernadette Jordan, Minister of Fisheries, Oceans, and the Canadian Coast Guard

Saturday's full information release can be explored here.

It's not really clear how the new funding may impact on the Prince Rupert waterfront, with much of the once thriving industry now part of the city's past or mothballed for the most part.

Though there are still a few plants in operation in the region that could surely make use of some of the opportunities that the money will provide for.

While they haven't issued a comment yet as to Saturday's announcement and where they may wish to see the investments made, the local office for UFAWU-UNIFOR has been sharing some info for local fish industry workers related to what financial assistance may be available for workers impacted by the COVID emergency.

You can review those notes here.

They also outline what assistance is available provincially here.

For more items of interest on the Fishery in the region see our archive page here.