SHIPPAGAN (GNB) – The provincial and federal governments will invest about $916,000 for the implementation of a three-year strategic plan to help make the Coastal Zones Research Institute more entrepreneurial and self-sufficient.

“Your government recognizes the importance of making the right investments at the right time to stimulate economic growth in all regions of New Brunswick,” said Environment and Local Government Minister Serge Rousselle. “This strategic plan will help keep the Coastal Zones Research Institute operational and allow it to operate in a sustainable way.”

Rousselle spoke on behalf of Transportation and Infrastructure Minister Bill Fraser, who is also the minister responsible for the Northern and Miramichi Funds.

The provincial government is investing $453,447 through the Northern Fund and $10,000 through the Department of Post-Secondary Education, Training and Labour’s Adjustment Services program, while the federal government is contributing $453,000 under the Atlantic Canada Opportunities Agency’s (ACOA) Innovative Communities Fund.

The strategic plan will facilitate marketing, commercialization, accounting, and productivity improvements and will include the hiring of expertise as well as staff training.

“Aquaculture and its related industries employ thousands of Canadians and represent important export markets for the Province of New Brunswick and the Atlantic region,” said Acadie-Bathurst MP Serge Cormier. “That is why the Government of Canada is committed to supporting projects like the one being undertaken by the Coastal Zones Research Institute to help them seize new opportunities in this growing industry so they can continue to create and maintain good jobs right here in our region.”

Cormier attended for federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for ACOA.

“These much appreciated financial contributions represent a turning point in the development of the Coastal Zones Research Institute,” said Sid Ahmed Selouani, chair of the institute’s board of directors. “They are indeed very timely as the institute’s projects in various spheres are making remarkable progress and research teams are gaining popularity, which bodes well for maintaining the momentum toward the desired entrepreneurial shift. No doubt these contributions from both levels of government, which strengthen the trend toward acknowledging the commercial value of the institute’s research products, offer undeniable benefits for the economic ecosystem by focusing on the value of resources in the Atlantic region and elsewhere.”