June 5, 2009

Ontario education infrastructure funds of $1 billion unveiled

ST. CATHARINES

The first round of infrastructure investment delivering more than $1 billion in new funding for 28 projects at post-secondary institutions throughout Ontario has been unveiled.

These investments are funded by both levels of government and in some cases with contributions from the post-secondary institutions. The Ontario government in the 2009 budget committed to invest $780 million in its colleges and universities to modernize facilities and boost long-term research and skills training capacity over the next two years.

As part of Canada’s Economic Action Plan, the government of Canada introduced the Knowledge Infrastructure Program, a two-year, $2-billion economic stimulus measure to support infrastructure enhancement at Canadian post-secondary institutions.

The joint funding announcement celebrates the first round of projects to qualify under the program in Ontario.

The investment totals more than $1.476 billion over two years, including $587 million in federal funding, $641.2 million in provincial funding, and $248.1 million from other funding sources.

DCN News Services

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