Province to close Newfoundland and Labrador’s Boston office
The provincial government is proceeding with the closure of its Boston Office as “part of its commitment to responsible fiscal management and a renewed, globally focused economic development strategy.”
The closure will save the province approximately $1 million annually.
“Closing our Boston Office is about making sure every public dollar is working as hard as possible for the people of Newfoundland and Labrador. Global markets are shifting, and our approach to economic development has to evolve with them,” says Premier Tony Wakeham. “By coordinating our efforts from home and broadening our reach internationally, we can focus on job creation, growing our economy and pursuing new opportunities for our businesses, while continuing to work with our long-standing partners in New England.”
The province says global trade conditions continue to evolve, with shifting tariffs, changing market dynamics and new opportunities emerging globally. Wakeham says concentrating resources in a single geographic location is no longer the most effective approach to advancing international trade and attracting investment.
Going forward, international business development efforts will be coordinated from within Newfoundland and Labrador.