TORONTO, ONTARIO--(Marketwired - Aug. 31, 2016) - The Government of Canada values the role of post-secondary institutions as they help equip young Canadians with the education and training they need for future careers that will help them join a strong, healthy middle class. Today's $27.3-million investment at Seneca College will do just that by fostering the training needed for the well-paying middle-class jobs of today and tomorrow.
The funding was announced today by Greg Fergus, Parliamentary Secretary to the Minister of Innovation, Science, and Economic Development, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. Parliamentary Secretary Fergus was joined by the Honourable Deb Mathews, Ontario Minister of Advanced Education and Skills Development.
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 exemplifies that vision in action and will help create the well-paying middle-class jobs of tomorrow.
The funding will support Seneca College's Centre for Innovation, Technology and Entrepreneurship (CITE). This facility promises to foster innovation by bringing many of Seneca's programs critical to innovation under one roof. These include specialized training, business incubation and applied research and commercialization programs. CITE will focus on helping small and medium-sized enterprises from north Toronto and York Region to build their innovation capacity by providing them access to labs, equipment and research expertise.
Of the total government contribution, $24 million will come from the federal government and $3.3 million from the Province of Ontario. Seneca College will contribute an additional $57.67 million for a total investment of $84.97 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. Federal 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.
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.
"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 middle-class 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 Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"This is an exciting time for Seneca College and for all of Canada's colleges and universities. Investments like the one being made today through the Post-Secondary Institutions Strategic Investment Fund will foster discovery, innovation and collaboration between universities, colleges and businesses across the country, making a positive impact on Canada's economy and its middle class for years to come."
- Greg Fergus, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"Our government is proud to support this important project, which will give Seneca College students access to new facilities that provide applied research, commercialization, specialized training, business incubation, and acceleration activities under one roof. We know that providing access to high-quality education and training facilities is critical to building the skilled workforce we need to support good jobs and economic growth for today and tomorrow, and this investment will help us to do it. "
- The Honourable Deb Matthews, Deputy Premier, Ontario Minister of Advanced Education and Skills Development, Minister Responsible for Digital Government
"With this investment, Seneca College's Centre for Innovation, Technology and Entrepreneurship is poised to harness its full potential as an international model of innovation excellence in Don Valley North. This investment will create good, well-paying jobs for the middle class today, while also delivering real results for students, researchers and families in Don Valley North for years to come."
- Geng Tan, Member of Parliament for Don Valley North
"Seneca's Centre for Innovation, Technology and Entrepreneurship will be a flagship facility in the Greater Toronto Area for students, faculty and business to learn, collaborate and create. We thank the federal and provincial governments for their support of innovation and creativity at Seneca."
- David Agnew, President, Seneca College
- The Government of Canada and the Government of Ontario are providing more than $950 million for research infrastructure at institutions across Ontario. Seneca College has been awarded $24 million by the Government of Canada for the Centre for Innovation, Technology and Entrepreneurship, a new innovation facility.
- 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.
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