The province is lending support to a family-owned business in Queens County.
Blue Wave Seafoods Inc., a fish processor and exporter, employs nearly 70 full and part-time staff at its facility in Port Mouton.
“Blue Wave is a family-run business that provides jobs that allow Nova Scotia families to stay and work close to home,” said Fisheries and Aquaculture Minister Sterling Belliveau, on behalf of Economic and Rural Development and Tourism Minister Graham Steele. “The province’s support will help Blue Wave make adjustments for lasting success, so it can continue to provide opportunities for people in rural Nova Scotia.”
The province is lending Blue Wave Seafoods $500,000 in working capital as the company restructures to achieve long-term sustainability. The loan is fully repayable over 10 years.
Blue Wave Seafoods processes and exports its products, primarily silver hake, across Canada, the United States and Europe.
“Our company has been an important part of the Port Mouton community for over 20 years,” said Blue Wave Seafoods co-owner Sylvain D’Eon. “We appreciate the province’s support as we plan to move our business into the future.”
Fish and seafood is one of the largest food commodities exported by Canada. Nova Scotia is Canada’s third largest exporter of fish and seafood, with exports valued at about $922 million in 2012.
The Nova Scotia Jobs Fund pursues investment opportunities for communities in transition, industry sectors, regional support, small business programs, infrastructure and large industrial ventures.
Source: Release