EDGE Board

Department

Authority

Remuneration

Purpose:

The Economic Diversification and Growth Enterprises (EDGE) program was established on December 16, 1994 under the authority of the Economic Diversification and Growth Enterprises Act (EDGE Act). The program is designed as an economic development and marketing tool to encourage new business investment in the province. It helps diversify the economy and stimulate private sector job creation through a number of tax-related and other incentives.

EDGE status is available to national and international companies that wish to establish a new enterprise in the province as well as local companies that want to expand and local entrepreneurs who are interested in new business start-ups. To be considered for EDGE status, a company must demonstrate the criteria listed under EDGE program. Companies that are granted designation as an EDGE Corporation enter into a contract with the Provincial Government.

Pursuant to subsection 6(1) of the EDGE Act, applications for designation as an EDGE Corporation shall be evaluated by a board appointed by the Lieutenant-Governor in Council, which is composed of public and private sector representatives, who shall make recommendations with respect to the applications to the Lieutenant-Governor in Council through the Minister.

The Department of Industry, Energy and Technology (IET) provides administrative support to the EDGE board. The description of the responsibilities and accountabilities of the EDGE board can be found at https://assembly.nl.ca/legislation/sr/statutes/e01-1.htm

Structure:

Pursuant to subsection 6(1) of the EDGE Act, the applications for designation as an EDGE Corporation shall be evaluated by a board appointed by the Lieutenant-Governor in Council, which is composed of public and private sector representatives. The public sector representatives include: the Deputy Minister or Assistant Deputy Minister of the Department of Finance; the Deputy Minister or Assistant Deputy Minister of the Department of Industry, Energy and Technology; and the Assistant Deputy Minister, Business and Innovation of the Department of Industry, Energy and Technology, together with the members from the private sector as appointed by the Lieutenant-Governor in Council.

Competency Profile:

Members of the EDGE board should collectively possess the following core competencies:

• business acumen and business development/growth experience;
• foreign direct investment/inward investment expertise;
• investment promotion and facilitation experience;
• business incentive program and strategy knowledge;
• investment and lending experience;
• management and leadership skills;
• risk management experience;
• regional economic development experience;
• knowledge of  income taxes and corporate taxes at the municipal, provincial and federal level;
• understanding of crown lands in the Province; and,
• knowledge of provincial business climate, including challenges and opportunities.

Qualifications:

Qualifications and attributes required of the board members:

• make informed decisions in a timely and professional manner;
• share expertise and perspectives in an open, supportive and confidential environment;
• have high ethical standards and integrity in professional dealings;
• demonstrate ability to focus on a pan-provincial vision;
• be flexible, responsive and willing to consider others’ opinions; and,
• have the ability to listen and work as a team member.

Time Commitments:

Members of the EDGE board should be available to meet to evaluate EDGE applications received under the EDGE program. Board members may also be expected to spend additional time to review materials and prepare for EDGE board meetings.

Term:

A Board member’s term is set by the Lieutenant-Governor in Council.