With an investment of $29,400 through the Fisheries Technology and New Opportunities Program, the Newfoundland and Labrador provincial government is supporting Eastern Fish Markets Ltd. in Carmanville to complete market research and develop a marketing plan.
This initiative will help the company increase their share of the live lobster market and build the value of their product in the long run.
This funding builds upon nearly $65,000 in previous funding provided to the company to support the construction of an upgraded live lobster holding system that was completed last fall. This system enables the company to produce higher quality lobsters and hold them for extended periods providing the potential to store high-quality live lobster for sale during periods when supply is low and prices are highest.
The marketing initiative will also include the development of branding and promotional material for the company.