Our Impact
When cod disappeared, we stayed.
We stayed so that when cod returned, Newfoundland and Labrador was ready.
A decision that shaped what came next
When the Northern cod moratorium was declared in 1992, much of the industry moved on.
Plants closed. Expertise was lost. Global customers found new suppliers.
In 2004, with the future still uncertain, Icewater Seafoods made a different decision.
We stayed.
Not because it was the easy choice—but because we believed in the people, the plant, and the long-term future of the fishery.
What staying meant
Staying meant continuing to invest when others would not.
It meant maintaining:
A highly skilled workforce with decades of cod expertise
A world-class processing facility in rural Newfoundland and Labrador
Long-term relationships with premium global seafood customers
It meant operating through uncertainty, often below capacity, while continuing to support a science-based, responsible approach to rebuilding the resource.
When cod returned, Newfoundland and
Labrador was ready
Today, the Northern cod commercial fishery has returned and the stock is healthy. The impact of Icewater’s decision throughout the moratorium is clear.
Because Icewater Seafoods stayed:
Processing capacity was already in place
Skilled workers were ready to return to full production
Investments to ensure top quality product were already made
Global markets were already secured
This meant the return of the fishery delivered immediate economic value—not years of delay.
Harvesters were able to access premium markets.
Workers enjoy stable, year-round employment.
Service and supply businesses felt the economic boost to their businesses.
Communities saw real economic benefits right away.
Without that foundation, the industry would have faced years of rebuilding—re-establishing customers, reinvesting in infrastructure, and redeveloping expertise.
A catalyst for economic impact
Icewater Seafoods has contributed more than $294 million to the Newfoundland and Labrador economy over the past two decades.
We employ more than 250 people in Arnold’s Cove—a town of fewer than 1,000 residents—and have remained the largest employer in the community every year since our founding.
In 2025, the return of year-round Northern cod production is generating millions of dollars in additional payroll and economic activity across the region.
Built on long-term thinking
Icewater Seafoods has always taken a long-term view.
We have consistently supported science-based fisheries management, even when it meant limiting short-term growth.
We have invested in innovation, quality, and sustainability to ensure Newfoundland and Labrador cod remains competitive in the world’s most demanding markets.
And we have maintained our commitment to the people and communities who depend on this industry.
Looking ahead
The return of the Northern cod fishery is not the end of the story—it is the beginning of a new chapter.
Icewater Seafoods is committed to ensuring that this opportunity is realized responsibly, sustainably, and with maximum benefit to Newfoundland and Labrador.
Because staying was never just about the past.
It was about being ready for the future.
