Creating Jobs, Building Ontario



    
    Investing in Ontario Act Delivers $1.1 Billion for Municipal
    Infrastructure
    

    TORONTO, Aug. 25 /CNW/ -

    NEWS

    The McGuinty government is investing an additional $1.1 billion in
municipal infrastructure to improve roads and bridges, expand public transit
and build other municipal projects.
    The investment is expected to create as many as 11,000 construction jobs
in the short term and make Ontario's economy more competitive in the long
term.
    The increase in infrastructure funding comes as a result of the
government passing the Investing in Ontario Act, 2008. Because of that act,
the government's surplus above $600 million for the 2007-2008 fiscal year was
able to flow to municipalities to fund infrastructure projects.
    Today's announcement was triggered by the release of the 2007-08 Public
Accounts, which show a $600 million surplus for the past fiscal year.
    Investing in infrastructure is part of the McGuinty government's
five-point economic plan to build a stronger economy.

    QUOTES

    "By investing in infrastructure in every Ontario community, we're
creating jobs for families and making our communities stronger," said Premier
Dalton McGuinty.
    "The Investing in Ontario Act is a balanced approach that will stimulate
our economy by investing in municipal infrastructure while being prudent by
paying down a portion of the accumulated deficit," said Dwight Duncan, Ontario
Minister of Finance.
    "Through this investment, the McGuinty government is taking another step
forward in our relationship with our municipal partners. Municipal leaders now
have the ability to choose their next infrastructure project, and to move that
project forward," said Minister of Municipal Affairs and Housing Jim Watson.

    
    QUICK FACTS

    -  This year, the Investing in Ontario Act, 2008 and regulation direct a
       portion of provincial surpluses to municipalities for infrastructure
       needs, such as improving roads and bridges, expanding transit and
       upgrading social housing.

    -  Every municipality in Ontario will benefit. $1.1 billion in capital
       grants will be paid to municipalities and $600 million will go towards
       reducing the province's accumulated deficit.

    -  In 2007, the Ontario Chamber of Commerce did a survey of Ontario
       economic leaders
(<a href="http://occ-oes.com/files/Ontario%20Economic%20Summit%20Leger%20Marketing%20Survey%202007.pdf">http://occ-oes.com/files/Ontario%20Economic%20Summit%20Leger%20Marketing%20Su</a>
<a href="http://occ-oes.com/files/Ontario%20Economic%20Summit%20Leger%20Marketing%20Survey%202007.pdf">rvey%202007.pdf</a>) and found "91 per cent of those surveyed indicated
       that infrastructure was the most critical issue to be addressed
       today (http://occ.on.ca/Communications/Media%20Releases/359 )."

    -  The 2007-08 Public Accounts
(http://www.fin.gov.on.ca/english/budget/paccts/) were released today, and
       present the audited financial statements of the province, provide
       financial highlights of the past fiscal year, and report on
       performance against the goals set out in the 2007 Budget.

    -  With today's announcement, in 2007-08 the McGuinty government invested
       a total of $9.9 billion in infrastructure to improve the province's
       highways, public transit, municipal roads and bridges, hospitals,
       places to learn and other public assets. Of that, $3.5 billion has
       gone towards municipalities for infrastructure.

    LEARN MORE

    See how the Investing in Ontario Act will be helping your community.
(http://www.fin.gov.on.ca/english/budget/paccts/2008/ioa.html)

    Find out how Ontario's five-point plan for the economy can help your
family (http://www.edu.gov.on.ca/eng/tcu/secondcareer/) and your business
(http://www.premier.gov.on.ca/news/Product.asp?ProductID=2071&Lang=EN).

    Read background information on the Investing in Ontario Act
(http://www.fin.gov.on.ca/english/media/2008/bk08-ioa.html).

    Learn more about the Provincial-Municipal Fiscal and Service Delivery
Review (http://www.mah.gov.on.ca/Page182.aspx), the government's commitment to
working towards a sustainable, provincial-municipal relationship.

    See how Ontario is helping to build infrastructure
(http://www.pir.gov.on.ca/english/infrastructure/index.html) across the
province.

    Learn more about what's happening in Ontario's municipalities
(http://www.mah.gov.on.ca/Page11.aspx).
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For further information: Premier's Media Office: (416) 314-8975

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