ACOA funding helps Newfoundland-Labrador Federation of Co-operatives launch an incubator pilot program
August 3, 2023 · St. John's, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
Social enterprises, non-profits, charities and co‑operatives help build stronger communities, and contribute to a resilient, inclusive economy that benefits all Canadians. That is why the Government of Canada is investing in the Newfoundland-Labrador Federation of Co-operatives (NLFC) to spark the growth of co-operative organizations in the Northeast Avalon region of Newfoundland and Labrador.
Today, Joanne Thompson, Member of Parliament for St. John's East, announced a non-repayable investment of $82,150 through the Regional Economic Growth through Innovation (REGI) program for the Newfoundland-Labrador Federation of Co-operatives. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency.
This co-operative incubator pilot program will support the growth and development of new, local co-operatives while providing clients with training, advisory services and mentorship opportunities through a network of professional advisors, seasoned businesses and established co-operatives.
Atlantic Canada's economy is bustling, with the Public Policy Forum publishing a report confirming that the region is poised for exponential growth. Programs like the one announced today contribute to this momentum by positioning our communities to seize new opportunities for economic growth.
