Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsEconomyWhat's in Nova Scotia's new three-year plan for its $2.2 billion seafood industry?Seafood Alliance exec says government plan gets everyone 'pulling on the same rope, going in the same direction'Last updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.Lobster fishermen load traps aboard a boat at the Falls Point Wharf in Woods Harbour, N.S. The Nova Scotia government has unveiled a three-year strategy aimed at strengthening the province's multi-billion-dollar seafood industry through new investments in innovation, market diversification and aquaculture growth. Photo by Kathy JohnsonThe Nova Scotia government has unveiled a three-year strategy aimed at strengthening the province’s multibillion-dollar seafood industry through new investments in innovation, market diversification and aquaculture growth as businesses grapple with rising costs, labour shortages and global trade uncertainty.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Nova Scotia Seafood Sector Strategy establishes a framework for government and industry to improve competitiveness while creating more economic value.“The seafood sector is one of our strongest natural assets and has enormous potential to grow,” Nova Scotia Fisheries and Aquaculture Minister Kent Smith said at a news conference in Clark’s Harbour on the province’s South Shore, the economic heart of the Atlantic fishery.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try again“This strategy provides a clear and practical road map to improve services, strengthen partnerships, expand market opportunities and better support businesses across the seafood sector.” Kent Smith, Nova Scotia’s minister of fisheries and aquaculture, released the 2026-29 Nova Scotia Seafood Sector Strategy, which is built around four pillars: industry growth and innovation, market and product diversification, operational efficiency, and communications and collaboration. Photo by Kathy JohnsonSeafood remains Nova Scotia’s largest export industry, generating about $2.2 billion in exports in 2025 and supporting roughly 19,000 jobs, many in rural communities.The strategy comes after a turbulent period for exporters affected by U.S. and Chinese tariffs, although Chinese tariffs have since been lifted.“If we had said a year ago that we were going to put a greater emphasis on something like China or the U.S., all of that would have changed completely with the imposition of tariffs and what’s going on in the Middle East,” Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, said in a phone interview.“This (strategy) gives flexibility to say notionally we’re going to change the way we deliver efficient seafood products to the world. We’re going to listen to the consumer. And at the same time, it calls for better communication with government and with industry. This really is more of a written commitment on both sides, that we’re both pulling on the same rope, going in the same direction.”The plan is built around four priorities: industry growth and innovation, market and product diversification, operational efficiency, and stronger communication and collaboration between government and industry.Vascotto said the strategy, which was developed through research and consultations with industry representatives and stakeholders over the course of a year, “delivers a clear path for both government and industry to achieve prosperity for all Nova Scotians.”“It’s akin to knowing where the highway is going to go,” he said. “We all talk about things like diversification. We all talk about that we have to export more. This gives us the methods and the tools to be able to get there . . . or otherwise everybody is working in their own silos, trying to achieve their own market expansion.“This says we are all working in this direction. We all recognize that there are limitations. We are seeing problems in terms of operational efficiency, how we deal with labour problems and how we deal with innovation. We could all work together and this gives us a blueprint for what the government sees as success and for what the industry sees as success, as well. It really puts the lines on the highway.”Among the strategy’s key initiatives is the creation of a Seafood Sector Innovation Hub, backed by $1.5 million in the 2026-27 provincial budget and ongoing annual funding. The hub will focus on applied research, technology adoption, commercialization and helping companies develop value-added products while making greater use of the full seafood resource.The Nova Scotia government has also committed $4 million over three years to diversify export markets and expand opportunities for Nova Scotia seafood producers. Additional measures include improving funding programs to encourage innovation, supporting growth in the aquaculture sector, streamlining regulatory approvals, and modernizing policies and workflows to reduce delays for businesses. Gregor Reid, left, director of the Centre for Marine Applied Research, Jeff Bishop, executive director of the Aquaculture Association of Nova Scotia, and Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, have a discussion following the release of 2026-29 Nova Scotia Seafood Sector Strategy in Clark’s Harbour. Photo by Kathy Johnson“It’s like two completely separate trains of thought coming to the same conclusion,” Vascotto said. “It helps us understand what an effective funding program for the fish and seafood sectors would be. And we did this by going through the majority of our members with face-to-face discussions, what they saw as being where the future of the industry needed to invest, where they needed to put capital, where they needed to develop.“We presented it to the province a couple of months ago, and we were absolutely stunned to see their perspective was very much aligned with the seafood sector.”Other industry leaders welcomed the plan, saying it provides long-awaited direction for one of Nova Scotia’s most important economic sectors.Jeff Bishop, executive director of the Aquaculture Association of Nova Scotia, said the emphasis on growth, innovation and efficiency could help unlock the sector’s untapped potential.“AANS is pleased to see the release of a Nova Scotia Seafood Sector Strategy focused on growth, innovation, diversification and efficiency,” Bishop said in a news release. “Work in these areas will help unlock the untapped potential of the aquaculture sector in our province and our region.” Copies of the 2026-29 Nova Scotia Seafood Sector Strategy were handed out at the strategy’s release in Clark’s Harbour. Photo by Kathy JohnsonThe strategy also signals a broader shift in how the province views the industry’s long-term competitiveness.For rural Nova Scotia, where seafood remains a cornerstone of many local economies, the strategy is intended to help preserve existing jobs while creating opportunities for the next generation of workers and entrepreneurs.Government officials said the sector can no longer rely on business models that worked two decades ago. Instead, future growth will depend on investments in automation, innovation, workforce development and expanding into new markets to remain competitive internationally.The province is betting that a co-ordinated approach to innovation, diversification and operational improvements will help ensure Nova Scotia’s seafood sector remains a global leader while generating greater economic returns at home.“If you look at the strategy itself, it is quite flexible,” Vascotto said. “It speaks to general ideals of where we want to go.“From a sector standpoint, we have a bit of a legacy where we catch fish and seafood products, we put them in a box, (and) there’s processing to those products. But consumer preferences are changing. Not everybody really wants a live piece of fish or seafood. They’d much rather get it in a package to put into the oven or reheat and eat or open it in a can.“For something as simple as diversification, we won’t have all of our eggs in one or two baskets.” Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.