Nova Scotia backs three seafood firms with $2.7M from strategic investment fund
What's the deal? Nova Scotia is investing more than $2.7 million across three seafood businesses through its Seafood and Agriculture Strategic Investment Fund. Fisheries and Aquaculture Minister Kent Smith announced the projects on July 14, 2026 at Innovative Fishery Products Inc. in St. Bernard, Digby County.
Where's the money going? Innovative Fishery Products received $870,228 for a large-scale oyster hatchery and nursery. Cedar Bay Grilling Company in Blandford got $950,000 for a salmon filleting and processing line, while Lobster Hub Inc. in Meteghan Centre received $900,000 to turn lobster byproducts into a concentrated stock product for export.
Why now? The diseases MSX and dermo have cut off historical oyster seed sources for the province, making local supply more urgent. Reliable, locally produced oyster seed is "more important than ever," said Nick D'Eon, vice-president finance at Mersey SeafoodsDealroom has a profile for this one. Try Dealroom → Group of Companies.
What's the endgame? The $4.7-million fund targets projects that boost productivity, strengthen competitiveness and help businesses adapt to changing markets. It follows the Nova Scotia Seafood Sector Strategy announced in June 2026, which prioritises growth, product diversification and operational efficiency.
By the numbers: The seafood sector submitted 28 applications. The current recipients have completed review and approval, and more may follow as remaining applications are processed.
The signal: With disease pressure squeezing traditional supply chains, the province is betting on modernised infrastructure to keep one of its "greatest economic strengths" competitive at home and abroad.
Read more: Government of Nova Scotia
