New partnership to advance regional cooperative development announced

The Department of Innovation, Trade and Rural Development (INTRD) and the Newfoundland and Labrador Federation of Cooperatives (NLFC) announced today a new partnership to advance the key priorities of a new regional cooperative development strategy. The partnership will focus on enhancing the development and promotion of the cooperative model to support business growth in rural communities throughout Newfoundland and Labrador.

�This partnership is an excellent fit with government�s approach to rural development, and adds to our growing toolkit to assist small business development in our province,� said Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. �The cooperative development model has proven itself to be a reliable method of developing and supporting viable enterprise growth in rural areas.�

A key component of the partnership is a regional cooperative developers� network of highly trained sector specialists who have extensive experience working within rural communities to advance and promote regional development. Network members will work pro-actively to identify cooperative development opportunities, initiate regional projects, and promote cooperative development alternatives at the regional level.

�The Newfoundland and Labrador Federation of Cooperatives is very pleased that the provincial government has been so supportive of our proposal to establish a new cooperative developers� network, in partnership with the Department of Innovation, Trade and Rural Development," says Gail Pike, NLFC President. "The implementation process has moved ahead quickly and we are already seeing positive results as more co-op development opportunities are identified in our rural communities."

Through the partnership, INTRD has designated eight employees as core members of the regional developers� network. The NLFC is providing an enhanced level of training and advisory support to network members to facilitate cooperative development activities in the region. ACOA is providing funding for the network in the form of a two-year grant.

A joint INTRD-NLFC committee has been established to facilitate the implementation of the strategy and oversee the operation of the regional network. The committee will meet quarterly in conjunction with network members to consult with the NLFC on training and information requirements, and report on development activities in the regions. Also, the joint committee and the regional developers� network will explore potential service delivery models for a new micro-business development program, adding to government�s growing tool kit for small and medium-sized businesses.

Media contact: Lynn Evans, Communications (709) 729-4570, 690-6290

2005 09 30                                    11:15 a.m.