Regional Development Fund

Organizations working to strengthen local economies across Newfoundland and Labrador often face a gap when it comes to funding non-commercial initiatives that still have a real business impact. The Regional Development Fund helps address that gap by supporting projects that contribute to economic development, innovation, and long-term capacity building in communities throughout the province. Delivered by the Department of Industry, Energy and Technology, this fund focuses on initiatives that create the conditions for business growth rather than direct commercial activity.

The program is made up of two complementary streams. The Regional Development Program supports larger economic initiatives tied to regional or sectoral development, including projects related to infrastructure planning, research, marketing, and capacity building that can lead to diversification or growth in emerging sectors. Funding is provided as a non-repayable contribution that typically covers a portion of eligible project costs, helping organizations move forward on initiatives that may otherwise be difficult to finance. The Community Capacity Building component, meanwhile, is geared toward training and skills development, offering more modest funding to support workshops and learning sessions focused on strategy, organizational management, collaboration, and co-operative development.

This opportunity is best suited to incorporated non-profit organizations such as industry associations, municipalities, economic development groups, and educational institutions that play a role in supporting business and regional growth. For organizations exploring ways to strengthen their impact and unlock new economic opportunities, learning more about how the Regional Development Fund works could be a valuable next step.