Mr. Speaker, the Canadian Centre for Fisheries Innovation is facing imminent closure due to the Atlantic Canada Opportunities Agency's decision to not renew funding to the centre. This centre has been a catalyst for research and innovation in the fisheries and aquaculture sector for nearly 20 years and has been responsible for many of the successful innovations that have occurred in this industry over that time period.
The ACOA minister stated in the House of Commons that the centre was no longer necessary and that industry had outgrown it. However, in recent weeks there has been an outcry against ACOA's decision to not renew this funding. These voices come from industry groups throughout Atlantic Canada, including harvesters, processors and aquaculture interests, from the academic research community and Liberal, Conservative and NDP members of Parliament alike.
Of particular note is the fact that the four Atlantic premiers have endorsed the need for the continuation of the centre. How is it that the ACOA minister can say that CCFI is no longer necessary when organizations so largely and widely support this group?
The 20-year success of this centre speaks for itself. CCFI has emerged as a centre for excellence for fisheries and aquaculture research and development and has brought tremendous value to the industry and the academic community throughout the region.
In the last six years alone, CCFI has managed more than 280 projects throughout Atlantic Canada at a total value of approximately $30 million. During this time, CCFI has achieved a leverage rate of approximately 1:5. Therefore, for every $1 the centre commits to a project, it leverages approximately $5 from other sources. This is a tremendous return on investment.
It is also important to note that nearly 50% of the centre's current leverage support comes directly from industry, which is a testament to the relevance of the organization. These projects have resulted in significant economic benefit throughout the entire Atlantic region, from resource development initiatives to improvements in energy efficiency, to new safety technologies in the harvesting sector, as well as advancements in the aquaculture sector.
There is no doubt that without the funding and facilitative support of CCFI to jump-start these projects, much of this highly valued research would not be completed. Let there be no doubt that cessation of the centre's mandate will leave a major void in fisheries and aquaculture innovation throughout Atlantic Canada.
For the ACOA minister to suggest that this void can be filled through the Atlantic innovation fund is highly misleading. AIF funding may provide support to a few large scale fisheries and aquaculture research projects each year but many will only benefit a couple of companies.
It is important to stress here that industry largely does not have the time nor the resources to pursue these large scale, high risk commercialization projects. By comparison, CCFI will take $1 million a year to fund 50 to 60 to 70 projects, leveraging $5 million to $6 million and providing real benefits to the entire Atlantic region. This is the kind of support that industry requires in this current economic climate: industry-driven industrial research and development that solves existing industry problems and leads to new commercialization activities and opportunities.
I would ask the minister responsible for ACOA why research in the fishing and aquaculture industry, which is the economic backbone of much of Atlantic Canada, being cut by the government now when it is needed most?