Seafood is big business in this small province, and companies like Royal Star Foods Ltd., South Shore Seafood Ltd., Acadian Supreme Inc., and Annand Clams are keeping up with industry trends and demand for PEI’s high quality foods. PEI’s food’s sector has become a leading driver in increased exports, and with this, companies need to implement innovative technology to increase productivity and capacity in order to remain competitive.
Bobby Morrissey, Member of Parliament for Egmont, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Heath MacDonald, Minister of Economic Development and Tourism, today announced government support for four seafood processors in Western Prince Edward Island.
ACOA, through its Business Development Program is supporting Royal Star Foods Ltd. with a combined investment of $413,500 in two projects; South Shore Seafood Ltd. with a contribution of $283,185; Acadian Supreme Inc. with a contribution of $238,450; and Annand Clams with a contribution of $131,000. The Government of Prince Edward Island is contributing $525,000 to Royal Star Foods Ltd. ($50,000 from Innovation PEI for the live lobster holding project and $475,000 through the PEI Century Fund for the cold storage facility); $927,743 to South Shore Seafood Ltd. ($127,743 from Innovation PEI through the Enriched Investment Tax Credit and $800,000 through the PEI Century Fund for the cold storage facility and building); $47,690 through Innovation PEI and up to $280,000 through the PEI Century Fund for Acadian Supreme Inc.’s live lobster holding project; and $16,000 through Innovation PEI for Annand Clams. The PEI Century Fund provides repayable loans to new and existing businesses in Prince Edward Island.
Quotes
“The Government of Canada understands that public investment is an important catalyst that spurs economic growth, job creation and prosperity. I am proud to make this announcement for these four local seafood processing companies that are working hard to deliver top-quality seafood to market, and at the same time provide good employment which plays an important role in strengthening our rural communities.”
- Bobby Morrissey, MP for Egmont, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Our Province is proud to support innovative companies in rural PEI who work hard to develop unique solutions to meet industry demands. We are committed to growing the Prince Edward Island economy, expanding our exports, and encouraging business and job development for Islanders. The work being done in the seafood sector is strategic in nature, and will ensure the province continues to be prosperous, now and into the future.”
- The Honourable Heath MacDonald, Minister of Economic Development and Tourism
“We are pleased to receive this government support, these projects are helping us become more innovative and efficient and this allows us to increase our work period and hire more employees. This is good news for our community!"
- Neil Perry, President, Royal Star Foods Ltd.
“This project has enabled us to expand our client base around the world in a highly competitive market and has allowed us to increase our staff size.”
- David L. Dalton, President, South Shore Seafoods Ltd.
“In our business you must continually move forward to improve efficiencies to stay competitive. This modernization to our holding facility allows us to double our holding capacity It also enables us to maximize our production and become better positioned to take advantage of the expanding global market for lobster products. We are pleased to receive this government support, we wouldn’t be able to move forward as fast without it.”
- Jeff Malloy, Acadian Supreme Inc.
“To date, we have devoted our time and energy to sourcing quality raw product and filling orders. Now, we are eager to get our products into new export market. With this government support we will be able to engage professional marketing efforts to help us with re-branding our company and developing various marketing material.”
- Carla and David Annand, Owners, Annand Clams Inc.
Background:
The Prince Edward Island seafood industry is a key driver in the province’s economy, ranking third behind agriculture and tourism. In 2015, the seafood industry accounted for approximately 4% of the province’s GDP, and international seafood exports were valued at $268 million, an increase of 3.7% from 2014. The Island’s seafood industry employs approximately 8,500 people each year including harvesters, crew, processing staff, buying staff, and other related professions.
Royal Star Foods Ltd. - The company will expand its current live lobster packing area to meet specific industry standard, and Royal Star will also acquire an innovative water circulation system that will improve product quality and enhance overall productivity.
South Shore Seafoods Ltd. – This project will enable the company to expand its current facility in order to increase its cold storage capacity. This expansion will improve the company’s productivity and will include instant blast freezing.
Acadian Supreme Inc. – This project involves the installation of a new water circulation system to improve product quality, advance new product development, and improve overall productivity within the company’s processing facility. This project will more than double Acadian Supreme’s live lobster holding capacity.
Annand Clams Inc. – This project will allow the company to implement a marketing plan which includes re-branding and re-designing product packages, and additional marketing materials. Annand Clams will also upgrade equipment to meet the needs of its customers.