When the value of the Canadian dollar plummets, cross-border shoppers feel a twinge of pain in their pocketbooks. But for people in the fishing industry, it’s been a big boost.
“We’re getting a strong return on our investment when we sell to the United States,” says Dannie Hansen, vice president of sustainability with Louisbourg Seafoods Ltd. “And because of our capital investments this year (of) millions of dollars in innovative equipment, it has been a great help for us on our bottom line at the end of the year.”
Hansen says a strong U.S. dollar means Louisbourg Seafoods Ltd. can put that extra revenue back into the company by buying new equipment, coming up with smarter ways of doing business and hiring more staff.
“It increases our employment numbers and it’s just a great benefit all over if you reinvest it back into the community. It’s what keeps us sustainable.”
Read the full story at Chronicle Herald >>
Read more about lobster >>
