The following statement was given today in the House of Assembly by the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development:

Supplier Development Program Helping Local Companies Tap into Major Projects

Mr. Speaker, the Provincial Government’s Supplier Development Program is helping local companies identify new business opportunities within the public sector, as well as major industrial projects.

Within the public sector, there are numerous opportunities for local businesses to sell their products and services.

The Provincial Government alone spends millions annually on the procurement of goods and services ranging from office supplies to materials and from maintaining highways to public facilities. When you factor in other levels of government, as well as Crown corporations and government agencies, that number swells into the billions of dollars.

Since 2005, the Department of Innovation, Business and Rural Development, has organized 59 supplier development events. These were attended by over 1,300 people from local businesses who gained valuable insight and knowledge into supply chain requirements.

Outside of the public sector, we coordinate similar initiatives to create awareness of the vast opportunities associated with the development of major industrial projects.

In addition to the significant employment that they create, these projects demand an incredible amount of products and services. As reflected by the success of businesses throughout the province that are servicing these industrial projects the sum of these opportunities are exciting and rewarding.

The success of large scale industrial projects underway in the province has also led to the development of world-class expertise and capabilities that increasingly are in demand in the global marketplace. It is also attracting major retail and commercial developments to communities throughout the province that are contributing to the diversification of the provincial economy.

As a government, we are a committed and vested partner in supporting conditions where this growth and development can continue into the future and the high level of business optimism continues to surpass other Canadian jurisdictions.

I encourage all businesses to contact my department to learn more about our Supplier Development Program. It is an important initiative that connects vendors and procurers to help ensure that the maximum benefits are realized for Newfoundland and Labrador businesses.

2012 11 29                            2:00 p.m.