The Pasadena Venture Centre（四）.docVIP

The Pasadena Venture Centre When federal operational support for their business incubator ran out in March 1989, the Pasadena Economic Development Committee had to turn to the provincial Department of Development for assistance. Provincial officials had shown little interest in the Western Newfoundland facility, however, and the Pasadena Committee knew they would have to increase their revenues from rentals if the Venture Centre, as it was called, was to survive. By so doing, though, they would jeopardize the very benefits the facility offered - both to individual firm success and to economic development of the region. Could a locally-based committee succeed in promoting small business development if they had to charge commercial rates and attract established firms to the facility? The Region Pasadena is located in the Humber Valley, the region stretching from the headwaters of the Humber River, just south of White Bay, along Deer Lake, and out to the Bay of Islands on the provinces west coast (Exhibit 1). Historically, the region was integrated as an economic unit based on the forest industry. This one was prepared by Professor Robert Greenwood of Memorial University of Newfoundland for the Atlantic Entrepreneurial Institute as a basis for classroom discussion, and is not meant to illustrate either effective or ineffective management Copyright ? 1993, the Atlantic Entrepreneurial Institute. Reproduction of this can is allowed without permission for educational purposes, but all such reproductions must acknowledge the copyright. This permission does not include publication. Comer Brook, at the mouth of the Humber River, had been the location of a paper mill since 1915. The Town of Deer Lake, fifteen miles east of Pasadena, grew around a hydroelectric plant constructed to power the mill. Most other communities in the valley were based on logging, although those, on the coast took part in the fishery like virtually all coastal Newfoundland communities. Pasadena was an