The following statement was read in the House of Assembly today by the Honourable Loyola O’Driscoll, Minister of Fisheries and Aquaculture:
Speaker, I rise in this honourable house to celebrate an important milestone for Newfoundland and Labrador’s fishing and aquaculture industries.
Earlier this month, I joined my federal and Atlantic counterparts to announce the renewed Atlantic Fisheries Fund. This fund will invest over $300 million in fishing and aquaculture projects in the Atlantic Region, including approximately $90 million for Newfoundland and Labrador.
The fishery has helped shape our province, and with support from the Atlantic Fisheries Fund, it will continue to strengthen our economy and create opportunities for our future.
The fund aims to enhance value within Atlantic Canada’s fish and seafood sector by focusing on four pillars of support:
- Market diversification to support market development activities.
- Innovation to support research and development of new innovations.
- Infrastructure to adopt or adapt new technologies, processes, or equipment.
- Science partnerships to enhance our knowledge and understanding of the impacts of changing ocean conditions and sustainable harvesting technology.
Newfoundland and Labrador’s fisheries and aquaculture sector generated a record $2.11 billion in market value in 2025, and continued investments through the Atlantic Fisheries Fund will help build on that success.
Speaker, applications are now open and I encourage all those interested to apply.
Thank you.