Canada’s C$300 million seafood and aquaculture boost
Canada has renewed the Atlantic Fisheries Fund (AFF) — a C$300 million, five-year programme to support seafood and aquaculture businesses across its Atlantic provinces. The renewal was announced on 15 October 2026 by the Honourable Joanne Thompson, Minister of Fisheries, together with the governments of Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
Applications for the renewed programme opened on the day of the announcement.
Key highlights
| Item | Detail |
|---|---|
| Programme | Atlantic Fisheries Fund (renewed) |
| Funding | C$300 million over five years |
| Cost sharing | 60% federal government, 40% the four Atlantic provinces |
| Provinces covered | Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland and Labrador |
| Applications | Open since 15 October 2026 |
| Announced by | Minister of Fisheries Joanne Thompson |
The four funding pillars
Projects must fit one of four pillars — with market diversification brand new to the renewed fund:
- Market Diversification (new): export promotion, industry branding, market research and developing alternative markets — aimed at reducing the sector’s exposure to international trade disruptions.
- Innovation: new technologies and processes that improve productivity and competitiveness.
- Infrastructure: investment in equipment, processing capacity and facilities.
- Science Partnerships: fisheries and aquaculture industry partnerships with academia and institutions on oceanographic change, adaptability and sustainable harvesting technology.
Who can apply
Eligible applicants across the four provinces include:
- Commercial fish harvesters
- Seafood processors and fishing businesses
- Commercial aquaculture operators, including salmon farmers
The fund was designed to support growth in fisheries, aquaculture and seafood processing — helping businesses expand operations, strengthen their businesses and pursue new opportunities.
Track record of the fund
The Atlantic Fisheries Fund was originally launched in 2017. Its first version committed more than C$370 million over nine years and supported 1,331 projects by the end of March 2026 — including investments in seafood processing technology, infrastructure and scientific research. It was created under the Atlantic Framework Agreement, which expired on 31 March 2026.
Provincial snapshots
- New Brunswick: combined $94.8 million over five years from the federal and provincial governments; the province’s own contribution is $37.9 million. “Our government’s contribution of $37.9 million to the renewed Atlantic Fisheries Fund will support harvesters, seafood processors and aquaculture operators,” said Pat Finnigan, Minister of Agriculture, Aquaculture and Fisheries.
- Newfoundland and Labrador: applications are now being accepted. The province’s fisheries and aquaculture sector generated $2.11 billion in market value in 2025 — the highest total on record. “This renewed commitment will help strengthen our seafood, fishing and aquaculture industries, support fish harvesters and processors, and drive innovation,” said Loyola O’Driscoll, Minister of Fisheries and Aquaculture.
Why it matters
Canada’s most valuable seafood exports — lobster and snow crab — have been caught in tariff battles with both the United States and China, making market diversification a strategic priority. The Canadian government says the investment is intended to improve productivity, strengthen competitiveness and reduce the industry’s exposure to international trade disruptions.
Official sources and how to apply
- Government of Canada — official announcement (15 Oct 2026)
- Government of New Brunswick — official release (15 Oct 2026)
- Government of Newfoundland and Labrador — official release (15 Oct 2026)
Applications are accepted through Fisheries and Oceans Canada’s Atlantic Fisheries Fund page — see the federal announcement above for application details.