Atlantic Canada Opportunities Agency
Boosting Economic Growth on Fogo Island and Beyond
March 11, 2025 · Fogo Island, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
Known for its stunning landscapes, rich cultural heritage, and deep-rooted traditions, Fogo Island has become a symbol of resilience and innovation. At the heart of the community’s economic and social revitalization is the Shorefast Foundation, a registered charity dedicated to creating lasting social and economic benefits for the community by fostering economic development, cultural preservation, and environmental stewardship.
Investing in local innovation and global connectivity
Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced a non-repayable contribution of $3 million to assist the Shorefast Foundation with its transformative project, the Shorefast Institute for Place-Based Economies. This initiative will promote sustainable economic development in rural and remote communities, starting in Atlantic Canada, by empowering local leaders, entrepreneurs, and community organizations with the tools they need to create prosperous, inclusive economies.
Minister Hutchings also announced a non-repayable investment of $181,967 to assist the Shorefast Foundation with a sales and marketing campaign to increase tourism on Fogo Island and to help develop the international visitor market.
These investments will help Shorefast Foundation expand its projects across Atlantic Canada and beyond, while promoting Fogo Island as a world-class destination, attracting international visitors and increasing economic activity in the region.
Today’s announcement further demonstrates the Government of Canada’s committment to fostering innovation and sustainable economic growth, empowering communities across Newfoundland and Labrador and Atlantic Canada, and positioning Fogo Island as a key player in Canada’s tourism economy.
https://www.canada.ca/en/atlantic-canada-opportunities/news/2025/03/fostering-economic-development-on-fogo-island-and-beyond.html