André Lamontagne, the Minister of Agriculture, Fisheries and Food, unveiled a substantial CAD 6.7 million (USD 4.9 million) investment plan during his recent visit to Gaspé. The announcement comes at a crucial time for the region, particularly for sectors grappling with recent setbacks in turbot and shrimp fisheries.

Financial Aid Breakdown

The investment package includes over CAD 4 million (USD 2.9 million) earmarked primarily for loan guarantees aimed at facilitating acquisitions of companies or equipment within the capture sector. Additionally, a grant totaling CAD 375,000 (USD 275 thousand) will be distributed among three fishing enterprises. The remaining funds, exceeding CAD 2 million (USD 1.47 million), are designated to bolster the processing sector, essential for sustaining operations and fostering growth within the fisheries industry.

During his visit, Minister Lamontagne underscored his commitment to aiding struggling fleets, including shrimpers and turbot fishermen. Recognizing the challenges faced by these sectors, discussions centered on identifying actionable strategies to support operational conversions and improvements. “Anything that is to help fishermen convert their operations, we are there,” affirmed Minister Lamontagne, emphasizing Quebec’s readiness to assist in navigating industry transitions.

Focus on Shrimp Industry

Last year, Minister Lamontagne initiated committees specifically tailored to support the fisheries sector in the Greater Gaspé region, where shrimp harvesting and processing play pivotal roles. The ongoing dialogue with industry stakeholders aims to align support measures with evolving sectoral needs and aspirations. “This morning, they told us a little about where they were at, the direction they want to take with all of this,” stated Minister Lamontagne, highlighting collaborative efforts to chart a sustainable path forward.

Despite concerted efforts, several shrimp boats are facing financial strain, compounded by the impending expiration of cost-deferral programs. The industry remains at a critical juncture, with stakeholders navigating economic uncertainties and operational complexities.