The Government of Canada supports infrastructure projects that create quality middle-class jobs and boost economic growth
COLES ISLAND, NB, April 11, 2018 /CNW/ - 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.
Today, the Honourable Marc Garneau, Minister of Transport announced a major investment of $22.062 million for upgrades to Route 10 that will help local businesses compete by moving commercial goods to market, and create more jobs for the middle class.
The project involves replacing two existing bridges on Route 10 in Coles Island, located in southcentral New Brunswick. The two bridges will be removed and replaced with new structures that can accommodate two lanes of traffic and will meet forestry industry standards for vehicle weights and increase the fluidity of trade at this strategic transportation corridor. The Strategic Corridor Project – Route 10, Coles Island is a project of the Government of New Brunswick.
The Government of Canada is supporting infrastructure projects that contribute most to Canada's continued success in international trade. For example, projects being funded will:
- 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.
For more information about the National Trade Corridors Fund please visit http://www.tc.gc.ca/eng/programs/national-trade-corridors-fund.html.
"Our government is investing in Canada's economy by making improvements to 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 and distribution of goods are a vital part of our local, regional and national economies. The investment announced here today will make our transportation system stronger by addressing urgent capacity constraints in Coles Island and fostering long-term prosperity for our community."
Member of Parliament for New Brunswick Southwest
"Strategic investments in transportation infrastructure are crucial to fostering an environment of economic growth and are an important component of our multi-year economic growth plan," said Gallant. "The replacement of these key transportation links will ensure that New Brunswick companies can get their goods to market efficiently and remain competitive."
The Honourable Brian Gallant
Premier of New Brunswick
- Transportation is an important element of Canada's trade with other countries. In 2017, total international merchandise trade amounted to $1,107 trillion. The United States continued to be Canada's top trade partner, with $702.9 billion in trade ($414.9 billion exported, $288.0 billion imported), accounting for 63.5 per cent of total Canadian trade in 2017.
- Of the produced goods that remained within Canada, over 875 million tonnes were transported by the commercial sector in 2015. Nearly 72 per cent of this amount was carried by for-hire trucking, 21 per cent by rail and 7 per cent by marine.
- 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 Backgrounder
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.
For more information about the National Trade Corridors Fund please visit: http://www.tc.gc.ca/eng/programs/national-trade-corridors-fund.html.
SOURCE Transport Canada
For further information: Delphine Denis, Office of the Honourable Marc Garneau, Minister of Transport, Ottawa, Delphine.email@example.com, 613-991-0700; Media Relations, Transport Canada, Ottawa, Media@tc.gc.ca, 613-993-0055