Last Updated: Friday, December 3, 2010 | 9:32 AM AT

CBC News

Leonard LeBlanc, president of the Gulf Nova Scotia Fishermen's Coalition, believes a federal program to buy back lobster licenses will make the industry more viable. (CBC)

The president of a coalition representing fishermen on the West Coast of Cape Breton says a federal buyback program for lobster licenses will keep the industry more viable.

Leonard LeBlanc with the Gulf Nova Scotia Fishermen's Commision represents fishermen from Margaree to Pleasant Bay.

He told CBC News the federal government will announce Friday it will buy back lobster licenses for $185,000 each.

It's part of an ongoing program in the southern Gulf of St. Lawrence.

LeBlanc hopes many fishermen will take advantage of the opportunity.

"We have around 113, 114 licenses and we're talking the harbours of Margaree, Grand Etang, La Point, Cheticamp and Pleasant Bay — that's the area we're working with. So we have 113 we're starting with and our goal would be to remove 20 to 25 percent of them. Mind you we all have to understand it's on a voluntary basis — nobody's being forced to sell," LeBlanc said.

LeBlanc said the buyback is a "limited time" offer. The federal government will keep it open for only two weeks.

"The idea is to reduce the number of lobster licenses, therefore reducing the impact and the effort on the lobster fishery, and making the remainder of the lobster fishermen more viable," explained Ross. LeBlanc said if enough people take advantage of it, it will make things better for everybody.

Cape Breton lobster landings were up this year, but prices were on the low side, starting around $3.75, and eventually reaching $4.50 by the time the season ended in June.