Island Investment Development Inc. Board
Island Investment Development Inc. (IIDI) is a crown corporation reporting to the Minister of Economic Development, Innovation, and Trade. The objects of IIDI are as follows:
- raise capital in foreign and domestic markets;
- provide financing to projects of significant economic benefit to the province;
- promote the province as a destination for offshore investment;
- attract entrepreneurial expertise and skilled labour to the province.
What is the function of the board?
Subject to policy direction issued by the Lieutenant Governor in Council, the Board is responsible for the administration of the Island Investment Development Act and Regulations, and the general operations of the organization, including:
- review and approve significant organization actions, within its delegated scope of authority;
- review the Organization’s financial controls and reporting systems;
- review and approve the Organization’s financial statements and financial reporting;
- oversee the Organization’s management of enterprise risk;
- review and monitor implementation of management’s strategic plans;
- monitor senior management's performance.
Primary Role: Adjudicative
- Strategic development
- Professional organization management
How many people are on the board?
In accordance with recent amendments to the Island Investment Development Act, the affairs of IIDI shall be conducted by a board of directors consisting of:
- deputy minister of Economic Development, Innovation, and Trade;
- deputy minister of Finance;
- executive director of Island Investment Development Inc.;
- four representatives of the private sector broadly representing the Prince Edward Island business community and including one representative from each of the following sectors: agriculture, fisheries, and tourism.
What are the requirements of board members?
Work and Experience Requirements
Strong background or experience in business management, immigration or public sector administration.
Sound understanding of good business practices, commercial financing principles, and economic development and immigration policy.
What are the nomination requirements?
Statutory Nomination Requirements
The Lieutenant Governor in Council shall appoint all members.
Will I get paid?
Chair - $175/diem and Members - $125/diem
What is the time commitment of the board?
The board is active and typically meets 2 to 3 times per month; a large time commitment is required.
All new nominees will be contacted and required to provide a criminal record check prior to appointment.
The term of office of members of the board shall be as specified by the Lieutenant Governor in Council in the instrument of appointment, but are typically for three year terms. Private sector members of the board may be reappointed.
|Name||County||Term Start||Term End|
|Johnny Flynn, Chair||Kings||December 31, 2021||December 31, 2024|
|Pamela Montgomery||Prince||August 22, 2018||December 31, 2023|
|Brendon McCloskey||Queens||August 22, 2018||December 31, 2023|
|Jacinthe Lemire||Queens||October 19, 2021||October 19, 2024|
|Deputy Minister of Economic Development, Innovation, and Trade||at pleasure|
|Deputy Minister of Finance||at pleasure|
|Executive Director, IIDI||at pleasure|
If you would like to serve as a member of a provincial government agency, board, or commission (ABC) you can apply online through Engage PEI.
Who can I contact about this board?
Director, Island Investment Development Inc.
Tel: (902) 620-3628
Fax: (902) 368-6255