Business

Zone 8’s strategic location on the west coast of the province and the ease of access by air, road and water gives the business sector an advantage over other regions.  Businesses in the region have easy access to the richest markets in the world including Canada, United States and the European Union.

Approximately 40,000 people reside in Zone 8. The City of Corner Brook’s location makes it the hub for distribution, service, retail and medical activity for the west coast of Newfoundland.

Zone 8 has approximately 1,390 businesses, with 80% of them having less than 20 employees. The small business sector is crucial to the economic prosperity of the Zone.  Zone 8 has a number of small business support agencies. 

There are also several larger employers in are zone including Corner Brook Pulp and Paper, Western Health and Provincial Government.

There are several issues facing business in the area.  These include lack of space, out migration and the mobile workforce (lack of employees) and high Canadian dollar.  However, on the other hand these issues affect businesses throughout the province.  The mobile workforce is having somewhat of a positive effect because families now have a higher disposable income to spend. 

Zone 8 currently has two (2) Business Retention and Expansion (BRE) Programs ongoing throughout the Zone.  The results have identified several red flag and other issues.  Now the local business support agencies and the business community are working to address these issues, and positive results are emerging.