The Department of Business, Tourism, Culture and Rural Development (BTCRD), in collaboration with Oceans Advance and other key stakeholders, has engaged the firm of Ernst and Young LLP (EY) to develop a current profile of the ocean technology sector in Newfoundland and Labrador and an analysis of strategic strengths, weaknesses, opportunities and threats in the sector.

This study will expand upon the previous sector profiles conducted in 2006 and 2010 and will include an updated ocean technology sector definition for the province. 

Members of the EY team will be contacting OceansAdance’s cluster members, in the near future to gather profile information and statistics related to market participation, employment and growth revenues, to be included in the analysis of the overall scope and nature of the sector. 

The previous sector profiles were completed with an extremely high participation rate and the support of OceansAdvance’s members in this initiative will ensure that an accurate and thorough picture of the ocean technology sector is developed.  All financial information provided to EY will be treated as confidential and only aggregate sector revenue and growth information will be included in the final document. 

The collective input will be used to inform a planned new strategy for the sector and to develop a profile that can be utilized to assist all stakeholders in the marketing of this important sector.

Members are encouraged to take the time to participate in this project.

– 30 –

For more information contact: Diane Taylor, Director, Ocean Technology and Arctic Opportunities; BTCRD, NL, T: 709.729.1684; E: dianetaylor@gov.nl.ca