April 13, 2026 – On behalf of the Valley Regional Enterprise Network (Valley REN), we wish to acknowledge that we are entering a period of organizational transition resulting from changes to provincial funding frameworks and broader fiscal pressures across all levels of government that affect our current funding model. We recognize that we are not alone in this transition and similar shifts are occurring in organizations across Nova Scotia and Canada.
The Province’s recent move toward the Regional Economic Partnership Program (REPP) reflects a change from core operational funding to activity-based investment for Regional Enterprise Networks. REPP’s priority areas—business navigation, business retention and expansion, and regional coordination—align closely with Valley REN’s mandate and our core strengths. We value our ongoing relationship with the Province and look forward to continuing our collaboration under this new and evolving framework.
At the municipal level, Valley REN operates within a three-year Intermunicipal Service Agreement (IMSA) which includes a two-year withdrawal notice provision. This provision has been activated by all of our First Nation and municipal partners in light of the shift in our operational funding model. Our IMSA was designed to allow partners and Valley REN to respond responsibly to changing conditions with operational funding. In times of financial uncertainty, thoughtful and coordinated transition planning is essential.
Throughout this period, our commitment to the Valley and to rural economic development remains unwavering. The work we do—supporting businesses, advancing investment readiness tools and activities, and leading key sector development efforts—continues to matter deeply. We remain optimistic that this period of change can lead to a stronger, more resilient organization over the long-term.
Valley REN has consistently delivered strong results rooted in economic development best practices and through a lean operational model. Our outcomes, strong financial stewardship, and impact across the region remain a source of pride for our Board, staff, and partners.
Over the past five years, our small and highly dedicated team has:
· Secured more than $6 million in project and program funding to drive economic growth and identify new regional revenue streams and strategies.
· Engaged over 5,000 businesses through programs, services, and hands-on outreach.
· Advanced initiatives and regional coordination focused on talent retention and sector development opportunities that support long-term regional competitiveness.
· Led and supported the facilitation of regional coordination efforts to help lessen economic disruptions/shocks (from regional lay-offs to climate change impacts).
· Worked with more than 80 stakeholders to test and develop an Agri-Food Tech Corridor, and more recently, the development of a distributive incubator model to support agri-food tech innovation.
· Launched and maintained the Valley region’s online site selector tool (land and asset database) that now has more than 480 active users; Valley REN is also the first Canadian organization to adopt GISWebTech’s Ecosystem platform to support regional investment readiness.
Next Steps
To guide this transition responsibly:
· The Board of Directors has established a task force to work closely with the CEO on organizational restructuring and long-term sustainability planning.
· Valley REN is actively engaged in discussions with First Nation, municipal, and provincial funding partners, as well as exploring new and innovative funding models, including private-sector and non-traditional partnerships.
· We are carefully assessing how to continue maintaining high-value economic development services while adapting our structure and resources to future realities.
· Changes to programs or services will be communicated clearly and in a timely way to businesses, partners, and the broader community.
In the spirit of economic development, we also view this challenging period as an opportunity to modernize and diversify our operational structure, strengthen our foundation, and position the Valley for continued economic growth and resilience.
We are grateful for the collaboration of our partners and look forward to working together on a positive and sustainable path forward.
Sincerely,
James Clouthier Board Chair
Lisa Villeneuve Board Vice-Chair