YELLOWKNIFE, Aug. 28, 2017 /CNW/ - The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors are key to the success of middle-class Canadians in the global marketplace. Modern, safe and functioning trade corridors will allow Canadians to compete in key global markets and trade more efficiently with international partners.
The Honourable Marc Garneau, Minister of Transport, today highlighted the importance of transportation for people living in the North. The Minister emphasized the need to address transportation challenges, such as accessibility to markets, difficult terrain and climate conditions and the high cost of construction along Canada's trade corridors in Yukon, Northwest Territories and Nunavut.
The National Trade Corridors Fund was recently launched by the Minister as a core element of the Trade and Transportation Corridors Initiative. The fund will provide $2 billion over 11 years to strengthen Canada's trade infrastructure, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
Transportation infrastructure development in the Northern Territories is relatively more expensive due to the region's unique features. The fund has a dedicated allotment to address the transportation needs of communities in Yukon, Northwest Territories and Nunavut that will improve safety and economic development.
Eligible projects will focus on northern transportation corridors (ports, airports, all-season roads and bridges) that support enhancements to safety, security, economic and/or social development in Canada's three territories. The projects should also address the unique and urgent transportation needs in Canada's territorial North. Money from the fund will be allocated based on merit and the project's ability to contribute to Canada's continued success in trade and international commerce.
Territorial and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, Canadian Port Authorities, and National Airport System Airport Authorities are all eligible to submit expressions of interest until September 5, 2017.
"Enhancing the northern transportation system will support and promote economic growth and social development, offer job opportunities, and ensure greater connectivity for Northerners. I encourage Canadians who own businesses, organizations and communities located in the Northwest Territories, Nunavut and Yukon to apply for funding under the National Trade Corridors Fund. New infrastructure projects support trade, economic growth, and the creation of good middle-class jobs."
The Honourable Marc Garneau
Minister of Transport
- The National Trade Corridors Fund is designed to allow the government to address the most important capacity constraints and freight bottlenecks on a national and system-wide basis, which includes Canada's territorial North.
- Enhancing the northern transportation system will support and promote economic growth and social development, offer job opportunities, and ensure greater connectivity for Northerners.
NATIONAL TRADE CORRIDORS FUND (NTCF)
The NTCF is a merit-based program designed to help infrastructure owners and users invest in the critical assets that support economic activity and the physical movement of goods and people in Canada. It represents a long-term commitment by the Government of Canada to work with stakeholders on strategic infrastructure projects that help to address transportation bottlenecks, vulnerabilities and congestion along Canada's trade corridors.
A total of $2 billion over 11 years has been allocated for the NTCF, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
On July 4, 2017, Minister Garneau announced the first call for expressions of interest for funding under the National Trade Corridors Fund for infrastructure projects that will address urgent capacity constraints and further improve supply chain performance.
Provincial, territorial and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, federal Crown Corporations, Canadian Port Authorities, and National Airport System Airport Authorities are encouraged to submit an expression of interest under this first call for expressions of interest by September 5, 2017.
NTCF funding will be allocated to projects based on their individual merits, which will be assessed according to how they help to strengthen the efficiency and resilience of transportation assets that are critical for Canada's continued success in global trade and commerce.
Eligible projects include, for example, ports, airports, roads, railways, intermodal facilities, international bridges and border crossings – assets that are the primary building blocks of the supply chains that enable the physical exchange of goods around the world and also support the critical movement of people and goods in Canada's Northern territories.
In addition to improving the Northern territorial transportation infrastructure and supporting nationally significant trade flows, NTCF funding will also be available to small National Airport System airports for safety improvement projects. Although separate, tailored Calls for Proposals will be issued for such projects starting in 2018, potential applicants are encouraged to also apply during this first call for expressions of interest.
The NTCF is one component of the Investing in Canada Plan, the Government of Canada's strategy for addressing long-term infrastructure needs in Canada and supporting middle class growth and jobs. The NTCF is also a key element of Transportation 2030, the Minister of Transport's strategic plan for the future of transportation. The development of this vision, including the NTCF, has been informed by extensive engagement with Canadians from coast to coast to coast, along with insights contained in the 2015 Canada Transportation Act Review report.
In addition to the $2 billion of investments under the National Trade Corridors Fund, the Canada Infrastructure Bank will invest at least an additional $5 billion to address trade and transportation projects.
Read more about the NTCF or submit an expression of interest.
SOURCE Transport Canada
For further information: Delphine Denis, Office of the Honourable Marc Garneau, Minister of Transport, Ottawa, Delphine.firstname.lastname@example.org, 613-991-0700; Media Relations, Transport Canada, Ottawa, Media@tc.gc.ca, 613-993-0055