The Port of Prince Rupert has launched a funding initiative aimed at exploring new trade opportunities.
The port says its $250,000 Export Development Fund will help communities and economic development agencies in western Canada assess new export opportunities in the Asia-Pacific region.
Opportunities could be related to an existing industry entering new markets, new or expanded industries that would work for export, or existing exporters not currently using the Port of Prince Rupert.
“Export-oriented industries have a disproportionately large impact on our local economies, and are critical to achieving economic growth and expansion,” said Ken Veldman, Director of Public Affairs for the Port of Prince Rupert in a news release. “By focusing on regional export ‘clusters’, and their need for competitive, reliable access to the markets that provide the most value, we hope to support a practical approach to growing our collective export trade portfolio.”
The port says it will issue a formal application process for the fund in the coming weeks.