The federal and Ontario governments will spend nearly $1.5 billion over the next two years on infrastructure projects at Ontario’s universities and colleges.
Industry Minister Tony Clement said yesterday the $1.476 billion will give short-term economic stimulus to communities in the province and help strengthen research and innovation.
“The renewal of college and university facilities will encourage more world-class researchers to work in Canada and give them the tools they need to make further discoveries that will benefit Canadians and people around the world,” Clement said in a statement.
The spending will include $587 million in federal funding, $641.2 million in provincial funding and $248.1 million from other sources, including the private sector and the universities and colleges themselves.
The monies will come from the federal Knowledge Infrastructure Program announced in the 2009 budget, a two-year, $2-billion economic stimulus measure to support infrastructure enhancement at Canadian post-secondary schools. They will be used to support deferred maintenance, repair and expansion projects at the colleges and universities.
A total of 28 projects at post-secondary institutions throughout the province will be beneficiaries of the first round of funding with another round of qualifying projects to be announced Friday.