Grieg Seafood’s Newfoundland project is expected to include 72 cages, a hatchery,
and production facilities—across 11 aquaculture sites. Grieg is one of several large international companies that have set up operations in
Atlantic Canada.

The Ocean Frontier Institute has 23 large 
ocean research projects. Based at Nova Scotia’s Dalhousie University, it is one of tens of such research facilities in Atlantic Canada. The institute connects Memorial University
in Newfoundland and Labrador, and the University of Prince Edward Island.

COVID-19 hasn’t stopped investment in Atlantic Canada aquaculture innovation.
The latest windfall is the Ocean Aware Project, a $29-million effort to track fish health 
and movement funded jointly by business
and government. Ocean Aware organizers
see the project helping both aquaculture
and wild fisheries.

Welcome to the Centre for Ocean Ventures
& Entrepreneurship, in Halifax, Nova Scotia. COVE is a hub of applied innovation to commercialize ocean technology. Collaboration is the rule at COVE, where businesses from around the world mingle with schools and researchers. COVE has 10,000 square feet 
of incubation space.

Every one of Canada’s 4 Atlantic provinces offers funding tailored to the aquaculture industry. So does the federal government.
With names like the Atlantic Fisheries Fund
(a federal program) and the Aquaculture
Capital Equity Program (in Newfoundland
and Labrador), these programs help
businesses grow quickly.

The region’s aquaculture industry benefits
from a current investment of $1.5 million to support clean, sustainable economic growth. Federal and provincial governments contributed jointly, under the Fisheries and Aquaculture Clean Technology Adoption Program.

Meet Canada’s scientific research and experimental development program. Known as SR&ED, this tax incentive is one of the most generous in the world to support the innovation ecosystem—refunding up to 43% of eligible Canadian labour.

Canada’s government is investing $153 million in its Ocean Supercluster, launched in 2018.
The ambitious project centers on Atlantic Canada and aims to increase the ocean economy by
$14 billion and 3,000 jobs in a decade. It brings together business, non-profit, and post-secondary institutions.

About 70% of Canada’s farmed seafood 
was exported in 2017—at a value of $897 million. Aquaculture operations in Atlantic Canada are supremely positioned to take advantage of foreign markets, with the U.S. and the
EU in such close proximity.

The U.S. is the top destination for Canadian aquaculture exports. For seafood generally, 62% of exports go to the U.S.—followed
by China and the EU.

The Canada-United States-Mexico Agreement
went into force on July 1, 2020. This generational agreement furthers the close trade ties between Canada and the U.S. market of almost 330 million people.

In 2017, a critical trade agreement removed tariffs from 96% of fish and seafood exports to the European Union. This agreement between Canada and the EU gives Canadian aquaculture concerns a leg up in accessing a huge market.

Salmon dominates the aquaculture catch
in Atlantic Canada. Over 300 million 
meals of farmed salmon are grown every year.

Aquaculture producers benefit from
70 farmed aquatic species licensed 
for farming.

Total production reached 84,749 tonnes 
in 2019—with plenty of untapped capacity
to double or perhaps triple the output of
this easternmost part of Canada.

Atlantic Canada’s four provinces have a combined coastline of more than 
40,000 kilometres. If Atlantic Canada were
its own country, it would still rank as the
second-longest coastline in the world,
after Indonesia.