Newfoundland and Labrador Product Development Strategy

- 224 -Taken together, these features will make the proposed agency more flexible and effective inengaging in the business of tourism as a key player.The Benefits to the Stakeholders of Having a Tourism Development AgencyThere are major advantages to the government and to the other stakeholders in using an agencyin this way:Benefits to the Provincial Government:o Levers funding from other sources - federal government, industry partners, etc.o Increases the level of buy-in from industry - both financial and participatoryo Leaves the ultimate fiscal control of Provincial funding in the government’s hand, viamulti-year budgetso Government can take credit for its successes and be insulated to a degree from itsmistakeso The business model is more in tune with the needs of an entrepreneurial businessorganization, which is what it needs to be to meet the challengeo Provides a strong leadership modelo Provides a framework for keeping other industry organizations on track within thecontext of the strategyBenefits to the Industry:o Integrated and efficient planning and strategic decision-makingo Provides a strong leadership modelo Gives the industry a role in decision-makingo Improved flexibility, timeliness and efficiency of decision-makingo Empowers its employees to make commitmentso Opportunity to lever federal funding into the efforto Is more accountable to the industry stakeholderso Provides a framework for keeping other industry organizations on track within thecontext of the strategyBenefits to ACOA and other major partners:o Provides a corporate-style, more depoliticized partner to work with, thatcan enter into joint ventureso Provides a framework for keeping other industry organizations on trackwithin the context of the strategyFirst StepsAs mentioned, we see the agency coming together in stages over time, which will be beneficialas it will avoid wrenching changes and allow each phase to be properly planned and tested.THE ECONOMIC PLANNING GROUP of Canada Newfoundland & Labrador Tourism Product DevelopmentD. W. Knight Associates Strategy and Accommodation Needs Study