News Feed Item
New Building Canada Fund Open for Business
|By Marketwired .
|March 28, 2014 01:03 PM EDT
OTTAWA, ONTARIO -- (Marketwired) -- 03/28/14 -- Infrastructure Canada
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, launched the New Building Canada Fund today.
The New Building Canada Fund, a key element of the $53 billion New Building Canada Plan, supports infrastructure projects of national, regional and local significance that promote job creation, economic growth, and productivity. It is the largest and longest federal infrastructure plan in our nation's history.
The New Building Canada Fund consists of the National Infrastructure Component, which will support projects of national significance, and the Provincial-Territorial Infrastructure Component, which will support projects of national, regional and local significance.
Today's official launch of the New Building Canada Fund means that the entire New Building Canada Plan is now "open for business," ensuring a seamless transition to the new program.
The New Building Canada Plan, which was designed following extensive consultation with provinces, territories, municipalities and other partners over the last two years, is a clear demonstration of the Harper Government's commitment to supporting world-class infrastructure. The Harper Government understands that infrastructure is the backbone of our country's economic growth. It helps get goods to market, to connect people and businesses with the world, and to reduce gridlock on our roads and highways.
The New Building Canada Plan will support projects such as roads, bridges, subways, commuter rail and other public infrastructure that ensures the prosperity of all Canadians.
-- Further details on how to submit a project for consideration under the
New Building Canada Fund are available on Infrastructure Canada's
-- Under the $53 billion New Building Canada Plan, provinces, territories
and municipalities will continue to have access to federal support for
their infrastructure project priorities over the next decade. They will
benefit from investments made through:
-- The $4 billion National Infrastructure Component and the $10 billion
Provincial-Territorial Infrastructure Component which will support
national, regional and local projects, including the Small
Communities Fund for projects in communities with fewer than 100,000
-- The Community Improvement Fund, consisting of the Gas Tax Fund
($21.8 billion) and the incremental Goods and Services Tax Rebate
for Municipalities ($10.4 billion), which will provide over $32
billion to municipalities for community infrastructure.
-- The $1.25 billion in funding for the P3 (Public-Private
Partnerships) Canada Fund.
-- $6 billion in existing funding that continues to flow across the
country this year and beyond under current infrastructure programs.
"The Harper Government is pleased to announce that, with the launch of the New Building Canada Fund today, provinces, territories, municipalities and other proponents may now apply."
"Our Government understands the vital importance infrastructure plays in our country's economic productivity. Since 2006, we have nearly doubled the average annual funding for provincial, territorial, and municipal infrastructure. Through the New Building Canada Plan we are providing $53 billion in stable, predictable funding over the next decade for public infrastructure across the country."
"The Harper Government is helping to ensure that we are making the most of each and every construction season, including the upcoming 2014 summer season. Our existing federal infrastructure programs will continue to support over 2,500 ongoing or new infrastructure projects across Canada during 2014 alone. This is over and above the new projects that will be approved under the New Building Canada Plan over the course of the year."
- Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec
- The New Building Canada Plan
Website: Infrastructure Canada
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