Regional Development Fund — Regional Development Program

Organizations working to strengthen local economies in Newfoundland and Labrador often face a gap between good ideas and the resources needed to put them into action. The Regional Development Fund — Regional Development Program is designed to help close that gap by supporting non-commercial projects that contribute to economic diversification, innovation, and sector development across the province. Delivered by the Department of Industry, Energy and Technology, the program focuses on initiatives that create longer-term economic benefits for regions rather than short-term operational support.

Funding through the Regional Development Program is non-repayable and is typically used to offset a portion of project costs, with support generally covering up to a quarter of eligible expenses. Projects commonly fall under themes such as regional infrastructure planning, capacity building, marketing initiatives, or applied research tied to emerging sectors and business development. While individual contributions are relatively modest compared to large capital programs, they can play a meaningful role in moving collaborative or early-stage economic initiatives forward, especially when combined with other funding sources.

The program is part of the broader Regional Development Fund, which also includes a Community Capacity Building component focused on training and organizational development. For incorporated organizations in Newfoundland and Labrador exploring ways to support regional growth, innovation, or sector diversification, learning more about how this funding works could help determine whether it fits your next project.