EDMONTON, ALBERTA--(Marketwired - Oct. 12, 2016) - Innovation, Science and Economic Development Canada
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 $34.98-million investment at the Northern Alberta Institute of Technology (NAIT) will do just that by fostering the training needed for the well-paying middle-class jobs of today and tomorrow.
The funding was announced by the Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and by Randy Boissonnault, Parliamentary Secretary to the Minister of Canadian Heritage.
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.
NAIT will use the funding to construct the Productivity and Innovation Centre, which will support many of the institute's applied research programs. Work at this new centre will focus on finding efficiencies in manufacturing processes, facilitating the adoption of new technologies, and developing and commercializing prototypes. NAIT is investing over $45 million in this project.
In total, universities and colleges throughout Alberta will receive over $500 million 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 create-the high-value, middle-class 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.
"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
"Encouraging scientific awareness in Alberta and across Canada depends on supporting our world-class scientists and researchers. Through the Strategic Investment Fund, we are strengthening the foundation for scientific excellence in Canada and helping to foster new discoveries in Canada and to get those discoveries into the hands of people and markets around the world."
- The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities
"These significant investments help Alberta students put their best foot forward by maximizing new, modernized learning environments, while also addressing the need for new skills and research that are the cornerstones of a healthy, diversified economy."
- The Honourable Marlin Schmidt, Alberta's Minister of Advanced Education
"The Productivity and Innovation Centre will be the place industry comes to find solutions and to succeed. It will support industry in becoming more productive and innovative. It will provide a foundation for future prosperity. We would like to thank the Government of Canada for providing the funding to make this project possible."
- Dr. Glenn Feltham, President and CEO, Northern Alberta Institute of Technology
- The Government of Canada is providing more than $225 million for research infrastructure at institutions across Alberta. The Northern Alberta Institute of Technology has been awarded $34.98 million in federal funding under the Post-Secondary Institutions Strategic Investment Fund.
- The Government of Canada's 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.
- Post-Secondary Institutions Strategic Investment Fund website
- Post-Secondary Institutions Strategic Investment Fund backgrounder
- Innovation Agenda backgrounder
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