Government of Canada Supports University of Waterloo Science Complex

WATERLOO, ONTARIO--(Marketwired - July 31, 2015) -

The Parliamentary Secretary for Infrastructure and Communities and Member of Parliament for Kitchener-Waterloo, Peter Braid, was joined today by the Honourable Diane Finley, Minister Responsible for Southwestern Ontario and Member of Parliament for Haldimand Norfolk and Ian Orchard, Vice-President, Academic and Provost of the University of Waterloo, to announce funding of up to $24.7 million for the University of Waterloo Science Complex under the New Building Canada Plan, in Ontario which will help the University respond to growing admission demands and support new fields of research done by graduates and undergraduates.

The new Science Complex will include lecture space and research laboratories as well as office and research space for the faculty members. It will provide facilities for two new undergraduate programs in materials and nanoscience and bio-based chemistry, as well as additional capacity for existing programs in biological and biomedical science. The new Complex will enable the University of Waterloo to transfer new knowledge through leading-edge basic and applied research to help drive innovation and develop a highly skilled workforce.

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

• The Government of Canada has selected this project for funding consideration of up to one third of eligible costs, to a maximum of $24,708,200 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.
• The University of Waterloo will be responsible for all remaining costs of the project, which has an estimated total cost of $95,000,000, as well as any cost overruns.
• 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

"Our Government's support for public infrastructure has never been stronger. We are pleased to work with our partners to approve projects under the New Building Canada Plan as we focus on creating jobs, promoting growth, and building strong, prosperous communities across Canada. We are proud to announce our intention to invest in the University of Waterloo Science Complex, which will focus on developing a highly-skilled workforce driving innovation in sectors that support increased economic diversification and competitiveness in Ontario."

Peter Braid, Parliamentary Secretary for Infrastructure and Communities and Member of Parliament for Kitchener-Waterloo

"I am extremely proud to see a facility for science studies being developed in this community. This Science Complex will allow the University to develop high-skilled workers and carry out world class research. Today's announcement is just another example of how federal investments, made through the New Building Canada Fund, will help increase the potential for innovation and economic development while support stronger communities, here in Kitchener-Waterloo and across Canada."

The Honourable Diane Finley, Minister of Public Works and Government Services, Minister Responsible for Southwestern Ontario and Member of Parliament for Haldimand Norfolk

"Waterloo's reputation for innovation is rooted in the world-class research that takes place here. Today's investment in the Science Complex will allow us to build new facilities that will support innovation in fields that include bio-based chemistry, materials and nanoscience and metagenomics. The investment also allows us to expand capacity to support world-leading experiential learning with hands-on lab experience as well as fostering a new strain of science-based entrepreneurs though our Velocity Science program."

Feridun Hamdullahpur, President and Vice-Chancellor, University of Waterloo

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.

For additional information on the New Building Canada Plan, visit http://www.infrastructure.gc.ca/plan/nbcp-npcc-eng.html.

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.

Follow us on Twitter at https://twitter.com/infc_eng