Completed
Way Forward Commitment:
To improve the province’s response to major investment projects, our Government will establish a Major Investment Projects Unit within existing resources. Major investment projects include business development projects that require government investment above a certain threshold. The goal of the Major Investment Projects Unit will be to develop an integrated process that coordinates multiple authorizations and permits, including active tracking and reporting and other monitoring requirements and timelines as outlined in regulatory frameworks and applicable legislation. The unit will assess impacts on the economy throughout the province when projects are being considered, improve internal and external communications regarding projects under review, eliminate duplication and ensure shorter timelines, while guaranteeing regulatory standards, such as environmental assessment and appropriate permits, are maintained or enhanced. A Major Investment Projects Unit will be established in 2017-18.
What We’ve Accomplished:
- The Major Investment Projects Unit was established within the Department of Tourism, Culture, Industry and Innovation (TCII) in 2017-18.
- The Unit overseas the progress of government initiatives that have major fiscal and economic importance for the province and has implemented processes to reduce wait times, improve communications for clients, and streamline decision-making processes for major economic projects. The Unit follows the Service Standards identified by TCII.
- A number of successful deals with significant job creation opportunities for Newfoundland and Labrador have been executed with the assistance of the Major Investment Projects Unit. A sample of these include:
- $750,000 to help support the development and growth of Quorum Information Systems;
- Over $5 million will be invested in a four-year partnership with Bluedrop Performance Learning for a demonstration project of SkillsPass NL;
- $2.25 million over two fiscal years for a forgivable loan to PAL Aerospace to support its Force Multiplier project;
- A $17 million repayable loan to Canada Fluorspar Inc. to assist with the re-activation of the St. Lawrence fluorspar mine;
- A $1.225 million investment to S&P Data, which will support the establishment of a 500 person in-bound contact centre in St. John’s; and,
- Repayable financial assistance up to $30 million to Grieg NL in support of the company’s $250 million aquaculture project in Placentia Bay.
News Releases:
Premier Ball Announces Investment in Innovative Software Company
Provincial Government Announces Support for Accelerated Growth Company
Premier Ball Welcomes Reopening of Fluorspar Mine
New Call Centre to Create up to 500 Jobs in St. John’s
New Aquaculture Project to Create Hundreds of Jobs on the Burin Peninsula