Economic Development
The Regional Service Commission has a minimum mandate to perform the following for economic development:
- Create a regional Labour Market Partnership Forum.
- Conduct a regional economic development ecosystem scan and contribute to development of the regional strategy.
- Support investment readiness. At a minimum level, RSC should support investment readiness by:
- Focusing on promoting the region as an investment-ready location by:
- Creating or improving existing profiles of regional assets, buildings, industrial parks, etc. that are available in the region.
- Supporting ONB on investor site visits in the region when required.
- Developing regional value propositions. Value propositions are statements that identify clear benefits an investor would get from investing in your region.
- Helping ONB understand what the investment attraction focus is, and is not, in the region.
- Collecting data on the regional economy and its needs: A key part of supporting investment readiness, RSCs must work with local governments and other regional partners to develop an in-depth understanding of the regional assets that can be used to promote the region. This includes everything from labour market data, wages for priority occupations, availability facilities, available utilities, demographics, regional business data, quality/cost of life indicators, and inventorying lands and assets that are available for development.
- Serving as a liaison for new inward investors: This includes supporting recently attracted/new investors in settling into the province by connecting them with the regional business community, helping then connect with the right local/regional/provincial/federal partners.
- Focusing on promoting the region as an investment-ready location by:
- Support Workforce Development and Labour Force Growth. At a minimum level, RSC should support workforce development by:
- Developing a regional workforce development and labour force growth strategy. RSCs will work with WorkingNB and key partners to establish a LMP Forum. Through said forum, the RSC will develop a regional workforce development and labour force growth strategy. The strategy will outline activities that the RSC can lead, coordinate, or support. RSCs will engage community and local government leaders in the strategy.
- Participating and, as needed, coordinating existing regional LMPs: Represent regional interests and priorities as they relate to labour force growth and development.
- Understanding the local labour market needs: Participate, as required, in the gathering and analysis of regional labour force trends (both supply and demand). Represent their regional needs and assets, as required, during attraction events and regional community onboarding initiatives.
- Understanding the newcomer retention services in the region: This includes understanding the regional network of settlement agencies and multicultural associations and understanding gaps in said network. Play a leadership role, in collaboration with Working NB, ONB, and settlement agencies in engaging community leaders, including employers, to fostering welcoming communities, inclusive workplaces, and related community onboarding services
- Developing regional marketing activities: Closely tied with promoting the region as an investment-ready location, develop regional marketing activities to support the attraction of people to the region.