Over $1 billion to fuel economic growth in urban and rural areas of Canada's most populous region
VARS, ON, Feb. 27, 2019 /CNW/ - Canada's ability to remain competitive in the fast-paced and increasingly global economy is closely tied to the strength of southern Ontario's economy. The Government of Canada is ensuring businesses, organizations and communities in every corner of the country are able to seize opportunities to build a stronger, more innovative, inclusive and diversified economy.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, accompanied by the Honourable Bernadette Jordan, Minister of Rural Economic Development, and Francis Drouin, Member of Parliament for Glengarry−Prescott−Russell, announced over $1 billion in funding for FedDev Ontario to continue to foster growth in southern Ontario.
Recognizing the vital role rural communities play in the region's economy, it was announced that FedDev Ontario is dedicating an initial sum of $100 million to projects that drive innovation and growth in rural communities.
Projects can now be submitted using a single application, through three simplified funding streams, which have been designed to meet the needs of our businesses, job-creating entrepreneurs, innovation partners and communities both now and into the future. Additional information is available in the funding streams backgrounder.
Minister Bains also launched an engagement process, inviting everyone in the region to provide feedback that will help target new investments and maximize their impact in southern Ontario. See the Towards a Stronger Southern Ontario backgrounder for more information.
FedDev Ontario is a key platform delivering the Government's Innovation and Skills Plan in southern Ontario, ensuring that Canadians living and working in the region have tailored support to seize opportunities created by the innovation economy.
"With this new funding, FedDev Ontario will continue to scale-up innovative businesses, strengthen innovation networks, and boost economic growth in local communities to create good, middle-class jobs in one of Canada's most vital economic hubs. By engaging directly with Canadians living and working in southern Ontario, we are ensuring FedDev Ontario's investments will reflect the unique strengths and opportunities of this region."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
"Canada's rural communities play an essential role in the economic development of our country. As Minister of Rural Economic Development, it is my role to champion both the competitive advantages and specific needs of these communities. This $100 million in dedicated funding from FedDev Ontario will create more opportunities to drive growth, support businesses and attract talent to southern Ontario's smaller and rural areas, resulting in stronger communities and a better quality of life."
- The Honourable Bernadette Jordan, Minister of Rural Economic Development
"FedDev Ontario continues to be a champion of innovation and growth in all communities across the region. This new funding and engagement process reinforces the Government of Canada's commitment to the people and workers of southern Ontario, as well as to developing the full economic potential of our vibrant rural communities."
- Francis Drouin, Member of Parliament for Glengarry−Prescott−Russell
- FedDev Ontario, one of Canada's six regional development agencies, delivers funding and business services that support innovation and growth in southern Ontario–from Prescott County, to Bruce County, and all the way to Welland and Windsor.
- This year marks 10 years of FedDev Ontario actively working to help secure the region's economic growth and long-term prosperity.
- Since inception in 2009, FedDev Ontario has invested almost $2 billion in southern Ontario's economy, resulting in partnerships with over 19,500 organizations through over 3,200 projects. Over 29,000 jobs have been created and maintained since 2014. Read more about the impacts we are having in southern Ontario.
SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, Tel.: 343-291-1710