April 25, 2019 – Oak Haven, NB – Atlantic Canada Opportunities Agency
The Government of Canada is committed to investing in Canadians’ futures, their communities, and their businesses. Investing in companies that are committed to innovation and growth fosters a thriving middle class and opens the country to new economic, social and environmental possibilities. It creates good jobs and improves the quality of life of all Canadians.
With support from the Government of Canada, Cooke Aquaculture is expanding its facilities and advancing its existing salmon breeding program. The investments will enable the company to expand its Oak Bay hatchery where it will develop and implement advanced genomics technology, building on its salmon breeding expertise. Government support will also help expand and modernize the company’s Johnson Lake hatchery facility, creating up to six new, highly skilled jobs.
Both expansion projects support innovation and productivity improvements in the aquaculture sector and are part of Cooke Aquaculture’s five-year plan to invest over $500 million in Atlantic Canada. The Government of Canada is providing contributions of more than $5.6 million to support these projects.
Karen Ludwig, Member of Parliament for New Brunswick Southwest, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), along with Cooke Aquaculture CEO Glenn Cooke, made the announcement today.
The Government of Canada is making smart investments that create good, well-paying jobs in our country. It is helping Atlantic Canadians develop and bring to market new products and services that lead to market success, help grow strategic sectors, or lead to the creation of research and commercialization partnerships. Support for these projects is one way the Government of Canada is working to achieve its Atlantic Growth Strategy outcome of long-term economic prosperity in the region.
“Our Government is committed to a coordinated strategy on innovation that delivers results for all Canadians. A key aspect of that strategy is to advance research and technology that will help grow and develop the aquaculture sector in an environmentally responsible way. Today’s investment in Cooke Aquaculture will create jobs, deepen our expertise, and benefit Atlantic Canada for many years to come.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“I’m thrilled to see our government’s support for Cooke Aquaculture, a company that has been leading the way in the aquaculture sector and making an enormous contribution to our regional economy. These expansions will enable Cooke Aquaculture to build on its already vast expertise in salmon breeding and contribute to the development of advanced technology that will help fuel further growth and commercialization, all while creating and maintaining highly-skilled jobs our region.’’
– Karen Ludwig, Member of Parliament for New Brunswick Southwest
“Our family purchased this hatchery 30 years ago, just a few years after establishing our first salmon farm in Kelly Cove. We invested in a hatchery to ensure we’d have a consistent and independent supply of eggs and smolt. As the company has expanded across the region, so has our need to grow this supply. This facility has continued to play a very important part in our operations and our ability to grow healthy seafood in a safe and sustainable manner.”
– Glenn Cooke, CEO, Cooke Aquaculture
- The Government of Canada is investing $3 million in the Johnson Lake expansion project through the Business Scale-up and Productivity stream of ACOA’s Regional Economic Growth through Innovation (REGI) program, and $2,601,542 toward the Oak Bay hatchery expansion project through the Atlantic Innovation Fund (AIF).
- The Business Scale-up and Productivity stream of the REGI program supports businesses at various stages of development, including high-growth firms, to accelerate their growth, help them scale up and enhance their productivity and competitiveness in both domestic and global markets.
- The REGI program and the AIF build on the objectives of the Government of Canada’s Innovation and Skills Plan.
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