OTTAWA, Dec. 4 /CNW/ - The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced more than $300 million in stimulus funding since its launch in August, which demonstrates the tremendous progress being made under Canada's Economic Action Plan.
"Our government continues to deliver on its commitment made in Canada's Economic Action Plan to stimulate the economy and create jobs," said the Honourable Gary Goodyear, Minister of State for FedDev Ontario. "Through our stimulus programs, we are creating thousands of jobs throughout the province, revitalizing critical municipal infrastructure and providing targeted support for struggling businesses and industry sectors to ensure they grow and prosper, both now and in the future."
In addition to implementing economic development programs like the Southern Ontario Development Program (SODP) and the Community Adjustment Fund (CAF), FedDev Ontario is also responsible for delivering infrastructure stimulus programs including the Building Canada Fund (BCF) and the Recreational Infrastructure Canada (RInC) Program in Ontario.
Of the 90 projects announced this September under the CAF, more than 80 per cent of projects are already underway. One project, which will see the construction of an academic and wellness facility for St. Clair College, will create nearly 400 jobs alone in the Chatham-Kent area.
Through the RInC Program in Ontario, our government is strengthening communities and enhancing recreational infrastructure through investments in 766 projects in urban and rural areas. More than a third of these projects are underway to help keep our residents active and improve their quality of life. For example, the City of Thunder Bay is rehabilitating the Fort William Stadium, which serves as the principal track and field facility for both the City and the northwestern Ontario region and was host for the 1981 Jeux Canada Games.
Under the Building Canada Fund Communities Component, money is moving out the door quickly to provide cleaner water, safer roads and bridges, improved waste management systems and better recreation facilities. For example, construction is well underway to expand the Wayne Gretzky Centre in Brantford, which will benefit from nearly $16 million in federal funding. With municipal and provincial funding included, the project represents a direct investment of more than $47 million in Brantford and the surrounding area. Under the Communities Component, more than 83 per cent of projects have started construction.
FedDev Ontario has also announced a number of local initiatives under the SODP, such as $8 million to build an air cargo terminal for the London International Airport and $5.2 million for COM DEV International to create micro-satellite system technology.
All of these projects play a key role in encouraging local economic growth and creating jobs for residents of Ontario. They have been made possible thanks to a series of initiatives introduced in Canada's Economic Action Plan, which is addressing the short-term effects of the economic decline, while preparing our communities for long-term prosperity.
For more information on FedDev Ontario, please visit www.southernontario.gc.ca. For more information on Canada's Economic Action Plan, please contact www.actionplan.gc.ca.
This news release is available online at: www.southernontario.gc.ca and www.actionplan.gc.ca.
SOURCE FEDERAL ECONOMIC DEVELOPMENT AGENCY FOR SOUTHERN ONTARIO
For further information: For further information: For media inquiries, please contact: Gary Toft, Director of Communications, Office of the Honourable Gary Goodyear, (613) 943-7599