Government of Canada Supports the New Centre of Advanced Research, Innovation and Entrepreneurship

OSHAWA, ONTARIO--(Marketwired - July 8, 2015) - The Honourable Erin O'Toole, Minister of Veterans Affairs and Member of Parliament for Durham was joined today by Dr. Tim McTiernan, President and Vice Chancellor of the University of Ontario Institute of Technology (UOIT) to announce funding of up to $26.9 million for the new Centre of Advanced Research, Innovation and Entrepreneurship (CARIE) building under the New Building Canada Plan, in Ontario. This project will provide much needed academic, entrepreneurial and research spaces on the University of Ontario Institute of Technology campus.

The new CARIE building will include the construction of new teaching labs, collaborative space for ventures focusing on applied research and development, as well as conference and seminar rooms. The facility will bring together services and resources to support entrepreneurial talent and facilitate collaborative research with industry, academic and community partners.

The New Building Canada Plan is the largest and longest federal infrastructure plan in Canada's history.
This unprecedented commitment is providing $53 billion to support provincial, territorial and municipal infrastructure, between 2014 and 2024.

Over this ten-year period, Ontario will benefit from approximately $11 billion in dedicated federal funding, including almost $2.7 billion under the New Building Canada Fund.

Quick Facts

Support for Centre of Advanced Research, Innovation and Entrepreneurship (CARIE) Building

• The Government of Canada has selected this project for funding consideration of up to one third of eligible costs, to a maximum of $26.9 million under the New Building Canada Fund's Provincial-Territorial Infrastructure Component-National and Regional Projects. This funding is conditional on the project meeting applicable federal eligibility requirements with respect to the New Building Canada Fund and the signing of a contribution agreement.
• UOIT will be responsible for securing all remaining funding necessary to complete the project.

New Building Canada Plan

• The $53 billion New Building Canada Plan provides stable funding for a 10-year period, and includes:
  • The Community Improvement Fund, consisting of the Gas Tax Fund and the incremental Goods and Services Tax Rebate for Municipalities, which will provide over $32 billion to municipalities for projects such as roads, public transit and recreational facilities, and other community infrastructure.
  • The $14-billion New Building Canada Fund, which consists of:
    • The $4-billion National Infrastructure Component that will support projects of national significance; and
    • The $10-billion Provincial-Territorial Infrastructure Component for projects of national, regional and local significance. Of this amount, $1 billion for projects in communities with fewer than 100,000 residents through the Small Communities Fund.
  • An additional $1.25 billion in funding for the Public-Private Partnerships (P3) Canada Fund administered by PPP Canada.

Quotes

"The University of Ontario Institute of Technology is a centre for innovation, entrepreneurship and education for all of Durham and leverages our automotive and agricultural expertise and our importance as the nuclear energy hub for Canada. Our government is proud to support UOIT with a $26.9M investment in the Centre of Advanced Research, Innovation and Entrepreneurship (CARIE). I would like to thank Dr. Tim McTiernan and the faculty and staff of UOIT for their important work on education and economic opportunities for the young people of Durham and Ontario."

The Honourable Erin O'Toole, Minister of Veterans Affairs and Member of Parliament for Durham

"I have had the pleasure to watch UOIT grow since first becoming elected to represent Oshawa in 2004. Today's announcement is just another example that our Conservative Government recognizes the importance of investing in skills development, and how it contributes to building strong, vibrant communities with thriving economies."

Colin Carrie, Member of Parliament for Oshawa

"In addition to helping the university expand its role as a research hub in the eastern GTA, the Centre for Advanced Research, Entrepreneurship and Innovation will support industrial innovation, economic prosperity and community development, and create exciting new entrepreneurial and experiential learning opportunities for UOIT students. The Government of Canada's investment strengthens the University of Ontario Institute of Technology's capacity to lever additional support from the business community, donors and other governments."

Tim McTiernan, PhD, President and Vice Chancellor

Associated Links

To learn more about the New Building Canada Fund - Provincial-Territorial Infrastructure Component - National and Regional Projects, please visit http://www.infrastructure.gc.ca/plan/nrp-pnr-prog-eng.html.

To learn more about the University of Ontario Institute of Technology, please visit www.UOIT.ca.

To learn more about the Government of Canada's focus on jobs and the economy consult Canada's Economic Action Plan at http://www.budget.gc.ca/2015/home-accueil-eng.html.

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