£20m Boost for UK Fishing Industry
The UK government is investing £20 million in infrastructure projects to modernise the country’s seafood sector.
With this funding, the processing facilities for fish that are popular in Britain, like Scottish salmon, mackerel and herring will be expanded. The investment is part of the £100 million UK Seafood Fund, which now granted a further £30 million for infrastructure projects through bidding.
The UK Seafood Fund is an extensive government investment towards the future of the UK fishing and seafood industry, with one arm of the fund specifically for upgrades to vital locations such as ports, processing facilities, and aquaculture farms. This will not only meet demands in years to come but also create jobs and support economic growth.
In addition to developing the infrastructure, the scheme also incentivizes businesses to become more sustainable by investing in greener technologies and adapting their use of materials.
The UK’s seafood industry is booming, with salmon exports alone amounting to approximately £600 million each year. Other popular fish, like Cornish sardines, are also highly sought after by European consumers for their excellent quality.
The second round of the UK Seafood Fund infrastructure scheme, worth £30 million, has a longer application window; businesses will have until March 2025 to deliver their transformational projects. Consequently, a greater variety of organisations can apply.
DEFRA will also soon announce the winners of its Fisheries Industry Science Partnerships (FISP) scheme, which is part of the UK Seafood Fund. This fund pays for data collection and research to support sustainable fisheries management. The last round of FISP funding will launch in December 2022.
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