HAMILTON, ON, Nov. 13, 2018 /CNW/ - The quality of transportation infrastructure and the efficiency of trade corridors are key to the success of Canadian firms in the global marketplace. The Government of Canada supports infrastructure projects that create quality middle-class jobs and boost economic growth.
Today, the Honourable Marc Garneau, Minister of Transport, announced an investment to expand and diversify the Port of Hamilton's capacity, and to increase its multi-modal transportation options. A new dock wall will be built at the Port's busiest pier, and rail infrastructure will be upgraded to increase capacity and allow more rail providers access to the port. Roadways will be improved so trucks can access a new container positioning depot. Storage capacity will be increased with a new warehouse for multi-user bulk storage, and cargo laydown areas will be graded and paved.
Today's $17.7 million investment in port expansion strengthens trade connections to European, African and South American markets while promoting a greater flow of cargo through the port to the Greater Toronto Horseshoe region and its Canadian and U.S. supply chains. It also supports Canada's trade diversification strategy which is all about securing better trade deals and providing support to innovative, ambitious and hard-working Canadian entrepreneurs so they can achieve success here and in all corners of the world.
This project will have important economic and employment benefits for the region by creating an estimated 524 jobs during construction.
The Government of Canada is supporting infrastructure projects that contribute most to Canada's continued success in international trade. For example, projects being funded:
- support economic activity and the physical movement of goods or people in Canada;
- help the transportation system withstand the effects of climate change and make sure it is able to support new technologies and innovation;
- address transportation bottlenecks and congestion along Canada's trade corridors; and
- increase the fluidity of Canadian trade around the world through our ports, airports, roads, railways, intermodal facilities, bridges and border crossings.
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 all eligible for funding under the National Trade Corridors Fund.
"Our government is investing in Canada's economy by improving our trade and transportation corridors. We are supporting projects that will efficiently move commercial goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and ensure that Canada's transportation networks remain competitive and efficient."
The Honourable Marc Garneau
Minister of Transport
- Transportation is an important element of Canada's trade with other countries. In 2017, total international merchandise trade amounted to $1.1 trillion. The United States continued to be Canada's top trade partner, with $703 billion in trade ($415 billion exported, $288 billion imported), accounting for 63.5 per cent of total Canadian trade in 2017.
- The Government of Canada places a strong emphasis on exports because of the connection between trade and good, well-paying jobs, as industries that are export-intensive pay wages that are, on average, more than 50 per cent higher than industries that are not.
National Trade Corridors Fund
The $2 billion National Trade Corridors Fund is one component of the $180 billion Investing in Canada Plan, the Government of Canada's strategy for addressing long-term infrastructure needs in Canada and supporting middle-class growth and well-paying jobs. The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors is key to the success of Canadian firms in the global marketplace.
The Government of Canada is providing support for well-functioning trade corridors that will allow Canadians to compete in key global markets and trade more efficiently with international partners. 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.
The National Trade Corridors Fund 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 National Trade Corridors Fund, 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.
The National Trade Corridors Fund 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 commercial goods and people in Canada.
A total of $2 billion over 11 years has been allocated for the National Trade Corridors Fund, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
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 were invited to submit proposals to Transport Canada which were then evaluated against the eligibility criteria for the program.
Types of projects that meet the eligibility criteria 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 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.
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SOURCE Transport Canada
For further information: Delphine Denis, Press Secretary, Office of the Honourable Marc Garneau, Minister of Transport, Ottawa, 613-991-0700, firstname.lastname@example.org; Media Relations, Transport Canada, Ottawa, 613-993-0055, email@example.com