The Government of Newfoundland and Labrador and the Government of Canada, along with the governments of Nova Scotia, New Brunswick and Prince Edward Island, recently announced the renewal of the Atlantic Fisheries Fund (AFF). The renewed fund will provide more than $300 million in strategic investments for fishing and aquaculture projects in the Atlantic region, jointly funded by the federal and provincial governments.

The Atlantic Fisheries Fund aims to drive innovation in the fish and seafood sector with a focus on developing the sector to better meet growing demands for sustainably sourced, high-quality fish and seafood products. The fund is designed to enhance market development and diversification, stability, sustainability, growth and economic value in the Atlantic fish and seafood sector, creating quality jobs and supporting coastal communities.

The renewed Atlantic Fisheries Fund will have four pillars, under which proponents can apply for support:

• Market diversification – to support market development activities, including export-focused advertising, market analysis, industry branding, promotion and advertising; and the dissemination of research focused on market access requirements such as regulatory standards – all to make the fish and seafood sector more resilient to global trade disruptions.
• Innovation – to support research and development of new innovations that contribute to the productivity and sustainability of the fish and seafood sector, and to create partnerships and networks that aim to promote and encourage innovations in the sector.
• Infrastructure – to adopt or adapt new technologies, processes, or equipment to improve the productivity and sustainability of the fish and seafood sector.
• Science partnerships – fisheries and aquaculture industry-based partnerships with academia and institutions to enhance knowledge and understanding of the impacts of changing oceanographic conditions, including adaptability measures, and sustainable harvesting technology.

The market diversification pillar is new for AFF and is essential for the continued diversification of the seafood sector beyond traditional markets and in the face of the changing global economic landscape.

Applications are now being accepted here.

Newfoundland and Labrador’s fisheries and aquaculture sector generated $2.11 billion in market value in 2025 – the highest total on record.

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“The renewal of the Atlantic Fisheries Fund is welcome news for Newfoundland and Labrador. This renewed commitment will help strengthen our seafood, fishing and aquaculture industries, support fish harvesters and processors, and drive innovation. Investments through the fund will help support the next generation and ensure our fishing industry remains strong and resilient for years to come.”
Honourable Loyola O’Driscoll
Minister of Fisheries and Aquaculture

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Atlantic Fisheries Fund