Eco-industrial development projects are increasingly popular because of their ability to transform the traditional model of industrial parks into more sustainable forms of economic development. Still, few industrial parks worldwide have achieved the high degree of eco-transformation that characterizes eco-industrial parks (EIPs). Assessing the potential for eco-industrial development at the park or regional scale is an important step towards this goal. This study aimed to assess the potential for ecological development of a growing industrial park (Caledonia Industrial Estates (CIE), province of New Brunswick, Canada) following the principles of industrial ecology. A baseline survey of CIE businesses was conducted. The results were compared to results from similar assessments in three other industrial parks across Canada, located in Nova Scotia, Ontario and Saskatchewan. The main categories used for comparison were business variety and size, public transportation, green spaces, energy and material use, and environmental management organization. While showing that CIE has EIP potential, the results revealed similarities and differences between the industrial parks studied, some of which were related to barriers limiting the efficient use and sharing of resources. One way that was identified that could help CIE incorporate eco-industrial activities into their operations would be the appointment of an environmental management organization or a shared environmental manager. Strategies to foster EIP development, in general, are also identified. These findings, based on actual business experiences, can help determine which actions and activities are suitable for CIE and other business communities that consider eco-industrial development as their next phase. They are particularly relevant to industrial parks in a development or redevelopment phase.