KINGSTON, ON, Sept. 17 /CNW/ - Residents of Kingston will benefit from a new economic stimulus project under the Government of Canada's Economic Action Plan. Speaking at Cataraqui Industrial Estates, the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario, today announced more than $1.5 million to service the eastern extension of Cataraqui Industrial Estates and to improve infrastructure at St. Lawrence Business Park.
"This project will do more than just rebuild the local infrastructure," said Minister of State Goodyear. "It will create jobs that will boost the local economy and promote long-term growth."
"We are very grateful for this investment," said Harvey Rosen, Mayor of the City of Kingston. "Improvements to these two business parks will have a significant impact on our economic development potential. It will also enhance employment opportunities for existing residents and for those who will choose to make Kingston home."
Funding for this project comes from the Government of Canada's Community Adjustment Fund (CAF). On August 27, more than $101 million was announced for 90 projects throughout Southern Ontario under CAF in 2009-2010. These investments will create immediate employment opportunities and support local economies in communities that have been struggling with the effects of the global economic downturn.
Approved projects must meet the terms and conditions set out in their funding agreements. The list of approved projects in Southern Ontario is available online at www.ic.gc.ca/caf.
Applications for 2010-2011 CAF project funds will be accepted by FedDev Ontario later this year. A public announcement will be made once details are finalized.
CAF is just one in a series of initiatives introduced in the Government of Canada's Economic Action Plan designed to address the short-term effects of the economic decline on communities across Canada, while preparing our communities for long-term growth.
The Government of Canada's Economic Action Plan committed $1 billion to provide timely, targeted economic stimulus to communities throughout Canada under the Community Adjustment Fund (CAF). In Ontario, CAF will provide $348.9 million over two years to support adjustment measures in communities most affected by the global economic downturn, including more than $101 million for projects in Southern Ontario in 2009-10.
This news release is available online at: www.ic.gc.ca/caf and www.actionplan.gc.ca.
SOURCE Government of Canada
For further information: For further information: Gary Toft, Director of Communications, Office of the Honourable Gary Goodyear, (613) 943-7599; Media Relations, Industry Canada, (613) 943-2505