Investment will create jobs, expand research and foster innovation
WATERLOO, ON, Jan. 12, 2017 /CNW/ - The Government of Canada values the role of post-secondary institutions as they help equip young Canadians with the education and training they need for future careers that will help them join a strong, healthy middle class. Today, the Government of Canada is investing $32.64 million for a total combined investment of nearly $88 million in the University of Waterloo, which will help foster the training needed for the well-paying middle-class jobs of today and tomorrow.
The funding was announced by the Honourable Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
Canada's Innovation Agenda aims to make this country a global centre for innovation - one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment exemplifies that vision in action.
The university will use the funding for the construction of a new state-of-the-art research and engineering building, to be known as Engineering 7. The new building will house more than 40 labs to support research in emerging areas such as additive manufacturing, autonomous vehicles and robotics, biomedical engineering, and the Internet of Things.
Funding for this $88-million project includes:
- $32.64 million from the Government of Canada;
- $18.86 million from the University of Waterloo; and
- $36.5 million from private sector donors.
In total, universities and colleges throughout Ontario will receive more than $1.9 billion from the Government of Canada, the provincial government, the institutions themselves and private donors. Federal funding will be allocated through the Post-Secondary Institutions Strategic Investment Fund, which will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities.
"This historic investment by the Government of Canada is a down payment on the government's vision to position Canada as a global centre for innovation. That means making Canada a world leader in turning ideas into solutions, science into technologies, skills into middle-class jobs and start-up companies into global successes."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"Investments like these will support our world-class researchers and position Canada as a global leader in research excellence and innovation. Through the Strategic Investment Fund, we are providing Canada's students with the education and training they need to join a strong, healthy middle class."
– The Honourable Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism
"As our province continues to build a competitive, robust economy, we need to ensure we enhance and modernize research facilities on Canadian campuses to offer our students the opportunities they need to succeed in the innovation economy. Through the funding announced today, the University of Waterloo will be building over 40 new labs that will provide students in Waterloo Region with high-demand programs in advanced manufacturing, robotics and biomedical engineering."
– The Honourable Kathryn McGarry, Ontario Minister of Natural Resources and Forestry
"This important project will give University of Waterloo students access to 40 new labs to support research and innovation. We know that providing access to high-quality education and training facilities is critical to building the highly skilled workforce we need to support good jobs and economic growth for today and tomorrow. This investment will help us to achieve that goal."
– Daiene Vernile, Member of Provincial Parliament for Kitchener Centre
"Since its founding 60 years ago, the University of Waterloo has been doing things differently. The Engineering 7 building is a prime example of Waterloo's unconventional, creative, innovative thinking. It will be home to world-leading talent and research, continuing to expand the impact of disruptive technologies that will help to put Canada at the forefront of the global economy."
– Feridun Hamdullahpur, President and Vice-Chancellor, University of Waterloo
- The Government of Canada and the Government of Ontario are providing more than $950 million for research infrastructure at institutions across Ontario. The University of Waterloo has been awarded $32.64 million by the federal government for the construction of its new Engineering 7 building.
- This investment supports Canada's Innovation Agenda, which is designed to ensure our country is globally competitive in promoting research, translating ideas into new products and services, accelerating business growth and propelling entrepreneurs from the start-up phase to international success.
- The Post-Secondary Institutions Strategic Investment Fund supports the Government of Canada's climate change objectives by encouraging sustainable and green infrastructure projects.
Follow Minister Bains and Minister Chagger on Twitter: @MinisterISED, @MinofSBT
SOURCE Innovation, Science and Economic Development Canada
For further information: Philip Proulx, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, firstname.lastname@example.org