Innovation, Trade and Rural Development
March 12, 2010
Board to Target
Investment and Business Opportunities
The Irish Loop
Development Board (ILDB) is using $12,500 from the
Provincial Government to attract foreign investment and
new business to the region. The investment and business
attraction strategy is an element of the board's
three-year strategic economic plan.
"The Irish Loop holds significant potential for
investment and business attraction," said the Honourable
Shawn Skinner, Minister of Innovation, Trade and Rural
Development. "By leveraging its marine, tourism, and
manufacturing infrastructure, the development board is
taking an aggressive approach to stimulating new
economic activities in its region. This project also
represents the long-term vision of the board and its
focus on creating a strong, vibrant business community
in the Irish Loop."
The primary component of the ILDB's investment
attraction strategy is a completion of a web-based
inventory of the opportunities that exist in the region.
It will include an overview of local companies,
community land use plans, regional investment
incentives, and transportation and utilities
infrastructure, along with other benefits offered in the
region.
"This project represents an important partnership among
multiple levels of government, community, and business
leaders and a cohesive approach to regional
development," said Harold Mullowney, President, ILDB.
"With the support received from our government partners
and input from municipalities and other regional
organizations such as the Irish Loop Chamber of Commerce
and the Celtic Business Development Corporation, the
Irish Loop Development Board now has a strategic vision
to guide our foreign direct investment efforts well into
the future."
Incorporated in 1998, the ILDB is the lead agency for
economic development within Economic Zone 20 (Bay Bulls
to Mall Bay). It is one of 20 regional economic
development boards strategically located throughout the
province.
"With an excellent record and extensive experience in
business and strategic planning, the ILDB has long been
a champion of the southern shore's business community,"
said Keith Hutchings, MHA, Ferryland. "This project is
an important step towards increasing business
partnerships, sales opportunities, and infrastructure
capacity throughout the region."
For more information on the ILDB and its investment
strategy, please visit www.irishloop.nf.ca.
This initiative was funded through the Regional/Sectoral
Diversification Fund (RSDF), which through Budget 2009:
Building on Our Strong Foundation was increased to an $8
million fund. Administered by the Department of
Innovation, Trade and Rural Development, the RSDF
provides non-repayable contributions to economic
development agencies for initiatives that address
regional and sectoral development and diversification.
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Media contacts:
2010 03 11
11:10 a.m.
