It is charged with stimulating economic prosperity and global competitiveness in the province.
It was created by subdividing the then Department of Economic Development, Tourism and Culture.
It was enlarged on October 9, 2001 when it absorbed the Department of Investment and Exports which has also been originally created from Economic Development, Tourism and Culture.
On October 12, 2010, then premier David Alward named a Minister of Economic Development with responsibility for Business New Brunswick.
[1] Since April 1, 2015, provincial Crown corporation Opportunities NB (ONB) has served as New Brunswick’s lead economic development agency mandated with fostering economic and business growth.