Commercial Fisheries Industry Support Program

Overview of the Commercial Fisheries Industry Support Program program:

The Commercial Fishery Support Program, offered by the Government of the Northwest Territories, is designed to provide financial assistance to commercial fishers in the region. The program aims to support the growth and sustainability of the local fishing industry by offering grants and other financial support to eligible applicants. This initiative is part of the broader effort to enhance economic development in the Northwest Territories through the expansion and modernization of the commercial fishery sector.

Benefits of the Commercial Fisheries Industry Support Program program:

• Accessing financial support for purchasing equipment, modernizing vessels, and improving operational efficiency.
• Receiving grants that do not require repayment, thereby reducing financial strain.
• Enhancing business growth opportunities through increased production capacity and market expansion.
• Strengthening the long-term sustainability of their fishing operations.
• Contributing to the local economy by creating jobs and boosting the regional fishery sector.

Eligibility criteria of the Commercial Fisheries Industry Support Program program:

• Eligibility varies according to the CFSP priority stream and emergent initiatives.
• The following recipient types have been identified as eligible for funding under the CFSP:
• Commercial Fisher
• NWT Industry Organization
• NWT Research Body/Institution
• NWT Indigenous Government
• NWT Indigenous Organization
• Applicants who are just starting commercial activities should demonstrate relevant experience and a capacity to engage in the sector, for example through access to equipment, licenses and permits.
• Commercial fishers must hold:
• A valid commercial fishing license and
• Vessel certificates if applicable