News Release

For immediate releases
August 19, 1999

Halifax, NS, — A total of $21.3 million will be made available over the next three years for long-term, sustainable economic development initiatives in communities and areas of Nova Scotia affected by the permanent downsizing of the Atlantic groundfishery.

Senator Al Graham, Leader of the Government in the Senate and Minister responsible for Nova Scotia, announced the details of the initiative on behalf of the Honourable George Baker, Minister of Veterans Affairs and Secretary of State for the Atlantic Canada Opportunities Agency (ACOA).

“The federal government continues to deliver on its commitment to help communities affected by the downturn in the Atlantic groundfishery through the economic development component of the Fishery Restructuring and Adjustment Measures,” said Senator Graham. “Over the past year, the federal government has worked closely and consulted extensively with industry and community stakeholders in Nova Scotia to ensure that the economic development initiatives which will be put in place over the next few years best respond to the particular circumstances of affected communities.”

In June 1998, the federal government announced that $93.8 million would be set aside for the economic development component of the $730 million Fisheries Restructuring and Adjustment Measures (FRAM) in the four Atlantic provinces. The amount available for affected communities in Nova Scotia is $21.3 million.

“Other components put in place shortly after the June 1998 FRAM announcement are successfully addressing the short-term needs of TAGS recipients,” added Senator Graham. “Today, we are turning our attention to long-term development with a goal of building sustainable economic growth for affected communities and ultimately, create long-term employment opportunities for people whose livelihood has been affected by the downturn in the groundfishery.”

ACOA will work in partnership with key regional and community development stakeholders to implement the new economic development initiatives announced today. This will ultimately strengthen and diversify the economy of affected areas, help rural and coastal areas adjust to the realities of the new fishery and assist them in becoming less dependent on seasonal industries and income support programs.

For Further Information Contact:

Alex Smith
Director, Communications
ACOA Nova Scotia
(902) 426-9305