This joint federal-provincial investment was announced today by Navdeep Bains, Minister of Innovation, Science and Economic Development; Kirsty Duncan, Minister of Science; Deb Matthews, Ontario Minister of Advanced Education and Skills Development; and Mr. Han Dong, Parliamentary Assistant to the Minister of Advanced Education and Skills Development.
Bains said: “This once-in-a-generation investment by the Government of Canada is a historic down payment on the government’s vision to position Canada as a global centre for innovation. That means making Canada a world leader in turning ideas into solutions, science into technologies, skills into jobs and start-up companies into global successes. This investment will create conditions that are conducive to innovation and long-term growth, which will in turn keep the Canadian economy globally competitive.”
The Government of Canada’s Innovation Agenda aims to make this country a global centre for innovation — one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment is a prime example of that vision in action.
Lab Innovation for Toronto
The funding will support the Lab Innovation for Toronto (LIFT) project, which will renew 546 labs across the university’s three campuses. Of the $98-million investment, $83.7 million will come from the federal government and $14.3 million from the Province of Ontario. The University of Toronto will contribute an additional $91.8 million for a total investment of $189.8 million.
In total, universities and colleges throughout Ontario will receive more than $1.9 billion from the Government of Canada, the provincial government, the institutions themselves and private donors. The funding will be allocated through the Post-Secondary Institutions Strategic Investment Fund, which will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities.
As a result of these investments, students, professors and researchers will work in state-of-the-art facilities that advance the country’s best research. They will collaborate in specially designed spaces that support lifelong learning and skills training. They will work in close proximity with partners to turn discoveries into products or services. In the process, they will train for — and invent — the high-value jobs of the future. And their discoveries will plant the seeds for the next generation of innovators.
That is how the Strategic Investment Fund will jump-start a virtuous circle of innovation, creating the right conditions for long-term growth that will yield benefits for generations to come.
Largest investment in public infrastructure
Ontario is making the largest investment in public infrastructure in the province’s history –about $160 billion over 12 years — which is supporting 110,000 jobs every year across the province with projects such as hospitals, schools, roads, bridges and transit. Since 2015, the Province has announced support for more than 475 projects that will keep people and goods moving, connect communities and improve quality of life. To learn more about infrastructure projects in your community, go to Ontario.ca/BuildON.
- The Government of Canada and the Government of Ontario are providing more than $950 million for research infrastructure at institutions across Ontario. More than $167 million has been awarded to the University of Toronto for the Lab Innovation for Toronto (LIFT) project.
- The Government of Canada’s recently launched Innovation Agenda is designed to ensure Canada is globally competitive in promoting research, translating ideas into new products and services, accelerating business growth and propelling entrepreneurs from the start-up phase to international success.
- The targeted, short-term investments under the Post-Secondary Institutions Strategic Investment Fund will promote economic activity across Canada and help Canada’s universities and colleges develop highly skilled workers, act as engines of discovery, and collaborate on innovations that help Canadian companies compete and grow internationally.
- The Post-Secondary Institutions Strategic Investment Fund supports the Government of Canada’s climate change objectives by encouraging sustainable and green infrastructure projects. – CINEWS