The primary objective of the program is to provide support for harvesting, processing, and marketing initiatives in order to diversify these activities and increase the overall viability of the Newfoundland and Labrador seafood industry. This program is intended to aid the provincial fishing industry become more innovative and competitive, while building a safer and more stable foundation. These initiatives will help ensure the Newfoundland and Labrador seafood industry continues to be a major economic contributor to the provincial economy.
The focus of the program is research and environmentally sustainable fisheries development work in the harvesting and processing sectors with emphasis on more efficient utilization of traditional species, better use of under-utilized species and enhanced value-realization of all fisheries resources. Emphasis will also be placed on recovery of raw material wastage and reduced discarding of fishery by-products as well as research on ways to improve quality and reduce operating expenditures, such as increasing fuel efficiency, in order to increase returns to the industry. Market research, development and promotion will be undertaken in support of the various initiatives as well as safety initiatives.
The key components of the Fisheries Technology and New Opportunities Program Overview are resource assessments, harvesting technology and innovation, processing technology and innovation, product development and market development. The department supports projects that contribute to the processing, harvesting and marketing sectors.