Tourism, Culture, Industry and Innovation

Regional and Business Development Branch

The Branch promotes and coordinates regional economic planning and development programs and services at the provincial level. The Branch includes five regional offices and three corporate office divisions.

Services

The Branch supports economic and business development through the delivery of a targeted suite of programs and services. This includes:

  • Coordinates communities, regions, businesses and government in support of sustainable development opportunities.
  • Identifies, in consultation with community and regional partners and line departments, the strategic investments required to advance economic, social, cultural and environmental development in all regions.
  • Works withline departments to address policy, program and regulatory issues that present barriers to implementation of priority initiatives identified for regions.
  • Implements the Regional Development Fund and Business Investment Fund throughout the province which provides non-repayable contributions to eligible organizations in support of the development and implementation of economic initiatives.
  • Delivers the Community Capacity Building program, a comprehensive development program designed to help regional and community economic development stakeholders build organizational capacity.
  • Through a formal MOU with the Newfoundland-Labrador Federation of Co-operatives, works to increase knowledge and awareness of the co-op development opportunities throughout the province, enhance opportunity identification and increase the number of development projects, improve regional development support services and increase the number of co-op enterprises in NL.
  • Develops and delivers Business Retention and Expansion (BR&E), a business counseling tool which assists with the identification and removal of barriers to growth and expansion.
  • Supports government planning initiatives and provincial policy initiatives relating to provincial economic development.
  • Coordinates Government's response to communities directly affected by industry closures.
  • Ensures consideration of Government's economic agenda in the Labour Market Development Agreement processes.
  • Provides and administers front-line small business development and community economic development programs and services to clients via five regional offices and 16 local offices.
  • Delivers BTCRD's comprehensive toolkit in support of priority business and regional development initiatives throughout the province, including:
  • Monitors and manages Department's Regional SME portfolio for repayment and/or collection.
  • Provides policy development, strategic planning, co-ordination and analytical support for small and medium-sized enterprise financial assistance/incentive programs delivered by the Department.
  • Provides business due diligence analysis on major funding requests assigned to the Department outside of existing programs.
  • Provides analysis and support to all other Divisions on major investment/business proposals to the Department.
  • The Business Analysis Division provides administrative support to the Business Investment Corporation Board, its Business Investment Management Committee and the EDGE Board. It also administers the Fisheries Loan Guarantee Program.
  • The Portfolio Management Division provides corporate comptrollership and financial accounting activities related to business investments made under the Business Investment Fund and its predecessor agencies. It manages and monitors revenue collections on overall investment portfolio, assumes direct collections responsibility for delinquent accounts.

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