Government of Canada Invests to Improve Quality of Life and Economy of Vaughan Families

VAUGHAN, ONTARIO--(Marketwire - March 16, 2011) - A new Government of Canada investment in the Vaughan Health Campus of Care will allow the organization to begin its plans for a one-stop Campus of Care, including a hospital, that will improve the quality of life of Vaughan families and create new economic opportunities. The Honourable Julian Fantino, Minister of State (Seniors) announced the investment today, with the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

"I am pleased that our government has delivered on this important commitment for the people of Vaughan," said Minister Fantino. "Our investment in the Vaughan Health Campus of Care will make a lasting difference for our families' quality of life, and help make Vaughan a leading centre for health research and innovation."

"Our government is committed to making sure the people, businesses and communities of southern Ontario have the tools they need to succeed," said Minister Goodyear. "Our investment in the Vaughan Health Campus of Care will help to create a new life sciences industry here in Vaughan that means jobs and healthier lives for residents in the entire region."

With a contribution of up to $10 million through FedDev Ontario's Prosperity Initiative, the Vaughan Health Campus of Care will begin developing an innovative network of health-related industries, by bringing health facilities, new life science businesses and educational and research institutions together on one site. The campus will have a strong innovation and commercialization focus, and by encouraging collaboration, it will help bring new advancements in the life sciences to market. The one-of-a-kind project will generate skilled jobs, bolster Vaughan's knowledge economy, provide greater economic opportunities for the region and help improve local health services for residents.

Minister Fantino praised the local contribution of residents and community leaders who fundraised for the Vaughan Health Campus of Care grassroots initiative.

The Prosperity Initiative is a direct result of feedback from business leaders, academics and community leaders from across southern Ontario, who suggested FedDev Ontario take a leadership role in enhancing economic development, diversification and competitiveness.

"The Vaughan Health Campus of Care is very pleased to have support from the Federal Economic Development Agency for Southern Ontario to create a thriving and dynamic life sciences campus in Vaughan," said Michael DeGasperis, Chair of the Vaughan Health Campus of Care. "This announcement will enable our organization to create a strategic health and economic cluster that will result in advancing a sustainable and diversified regional economy, focused on high skilled, high paying jobs, and a state-of the-art continuum of care, including a hospital."

FedDev Ontario was created as part of Canada's Economic Action Plan to support businesses and communities in southern Ontario. Now in its second year of operation, the Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to support businesses and other organizations through partnerships and investments in skills and training; innovation; research and development; and increased productivity. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.

Backgrounder

Prosperity Initiative

FedDev Ontario's Prosperity Initiative is designed to encourage businesses, not-for-profit organizations and post-secondary institutions in southern Ontario to undertake projects that will result in a more productive, diversified and competitive economy in the region.

Funding is available for projects that:

• enhance productivity, by accelerating the adoption of new technologies, processes and skills to enhance businesses and sectors in southern Ontario to achieve higher output in relation to their investments;
• diversify the regional economy, by increasing the number of new industries or opportunities in southern Ontario communities or regions with the potential to have long-term impacts on their economic diversity; and
• build a competitive advantage for southern Ontario, by building on the assets and strengths of southern Ontario businesses and regions to create or expand economic clusters and enhance their global competitiveness.

Applications for funding are being accepted and assessed on an ongoing basis. For more information and to apply, please refer to the Program Guidelines available on the website at www.feddevontario.gc.ca.

Contribution to Vaughan Health Campus of Care

The Vaughan Health Campus of Care is a not-for-profit organization established in 2008. It oversees the Vaughan Health Services group, including the Vaughan Health Care Foundation, the Vaughan Community Health Centre and the Vaughan Senior Care Services.

FedDev Ontario is contributing up to $10 million to the Vaughan Health Campus of Care project as their proposed campus will attract new investment, create jobs, and encourage research, development and commercialization in the life sciences. These activities will support the diversification of Vaughan's economy.

Divided into two phases, Phase I includes business planning activities, market analysis and design. Phase II involves preparing the site for construction, including transportation, water and wastewater infrastructure. All project activities must be completed prior to March 31, 2014.