07/19/2012 04:31 EDT | Updated 09/18/2012 05:12 EDT

Nova Scotia government picks panel to examine regional development system

HALIFAX - A government-appointed panel is going to examine the usefulness of regional economic development authorities in Nova Scotia.

The province announced today it will ask a group of business and community leaders to provide recommendations on the best approach to create jobs and grow the province's economy.

The federal government announced recently it would end its portion of funding for the authorities in May 2013.

Economic Development Minister Percy Paris said in a news release that the panel will examine whether the development authorities are the best way for government to support business development.

He says the four-person panel will consult with municipalities, the federal government, community and business leaders, and existing development authorities.

The authorities are currently funded by the provinces, Ottawa and municipal governments.