St. John's, Paradise, and CBS to establish a Regional Economic Development Agency

Mayors of St. John's, Paradise, and Conception Bay South signed a Letter of Intent to establish a Regional Economic Development Agency that will align resources and improve economic development opportunities to build stronger and more resilient communities in the area.

There will be a new agency established that will have representation from each municipality on a governance board. It will be supported through financial and non-financial investments from each municipality.

Mount Pearl did not take part in the initiative.

The hope is that there will be an increase in growth and expansion of business activity that will lead to long-term value-added employment in the region.