OREANDA-NEWS. The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), was in Holyrood today, along with the Honourable Judy Foote, Minister of Public Services and Procurement and Member of Parliament for Bonavista - Burin - Trinity and Ken McDonald, Member of Parliament for Avalon, to announce a $3 million investment in the Fisheries and Marine Institute of Memorial University.  

The Fisheries and Marine Institute (MI) is further developing the Holyrood Marine Base (HMB) into a world-class facility to support the applied research, education, training and testing requirements of Newfoundland and Labrador’s growing ocean technology industry.  The next phase of the initiative includes constructing a breakwater and marginal wharf, repurposing the existing wharf, developing laydown space and adding underwater infrastructure to support the development and testing of next generation ocean technologies.  

This project will enhance community and regional capacity within the province's ocean technology industry.  Ocean technology and its associated sub-sectors have been identified as a strategic sector in Newfoundland and Labrador and this project will help build capacity in this emerging sector.  Further development of the HMB will enhance MI’s ability to maintain its position as a first-class provider of ocean technology training and research.

 The Government of Canada and the governments of the four Atlantic Provinces launched on July 4, 2016, an Atlantic Growth Strategy that will direct targeted actions to stimulate the Atlantic Canadian economy, including supporting key infrastructure projects that support long-term growth and position the region to capitalize on emerging opportunities. Today’s announcement builds on this commitment.