Around a hundred politicians and industry observers were on hand at The Rooms in St. John’s as Premier Kathy Dunderdale announced a new way of doing policy on the fishery.
And it comes with a whole heap of money.
Dunderdale announced a $400 million federal-provincial fund for research and development, science, marketing and infrastructure.
Business Minister Charlene Johnson started things off by calling it a “historic” announcement.
The announcement comes on the heels of the CETA free trade deal with Europe, which will provide unrestricted access for fish products exported to the European Union.
“We are about to see an infusion of resources, creativity and money into the fishery, the like of which has never been seen before,” Dunderdale said.
Ottawa is putting up 70 per cent of the cost, with the province paying 30 per cent.
It is not clear how soon the money will start flowing, or how long it will take to pay out the money.