Minister Aglukkaq Announces Funding for a New Marine Facility at Pond Inlet

POND INLET, NUNAVUT--(Marketwired - June 26, 2015) -

Editors Note: There is a photo associated with this press release

The Honourable Leona Aglukkaq, Minister of the Environment, Minister of the Canadian Northern Economic Development Agency, Minister for the Arctic Council and Member of Parliament for Nunavut was joined today by Joe Enook, Nunavut's Member of Legislative Assembly for Tununiq, and Pond Inlet Mayor Charlie Inuaraq to announce federal funding of up to $30 million to establish a new marine and small craft harbour at Pond Inlet, Nunavut.

This major infrastructure investment comes from the New Building Canada Plan and will support economic development on Baffin Island, as well as helping to increase security of supply for food, fuel and other goods for local residents.

This project will directly support the local and regional economies while creating jobs and opportunities for Nunavummiut. The project would also support hunters and trappers, and provide local residents with a safer means to off-load their catch, which would improve worker safety and reduce potential damage to equipment. Pond Inlet is known for its mountain views and glaciers that attract many visitors each year and so enhanced marine infrastructure would also support the growth of tourism to the area.

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, Nunavut will benefit from approximately $419 million in dedicated federal funding, including more than $256 million under the New Building Canada Fund.

Quick Facts

• The Government of Canada has selected this project for funding consideration of up to 75 per cent of eligible costs, to a maximum of $30 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. The Government of Nunavut will be responsible for all remaining costs of the project. The total estimated cost of the project is $40 million.
• 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

"No other Government in history has invested as much as we have in Nunavut. Since we formed Government we have increased transfers and made record investments throughout the territory. Today, I am excited to announce another important investment that will directly support economic growth in the territory. We are proud to invest in the Pond Inlet Marine Infrastructure Project which will not only bring important economic benefits to the area but directly support good well-paying jobs in Nunavut."

The Honourable Leona Aglukkaq, Minister of the Environment, Minister of the Canadian Northern Economic Development Agency, Minister for the Arctic Council, Member of Parliament for Nunavut

"Since establishing the Government of Nunavut's mandate, we have been aggressively working with Canada for strategic infrastructure investments that support economic viability in our communities today and in the future. We are encouraged by this announcement and continue to work with Canada and our M.P., for more infrastructure projects across the territory."

The Honourable Peter Taptuna, Premier of Nunavut

"This is a step in the right direction for Nunavut. We currently only have one small craft harbour in a territory that has the longest coastline of any jurisdiction in Canada. Once complete, this small craft harbour will provide protection to vessels in Pond Inlet and multiple economic benefits. We look forward to continuing to work with the Government of Canada to build marine facilities in other communities."

The Honourable Monica Ell, Nunavut's Minister of Economic Development and Transportation

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.

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To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Pond_Inlet_Marine_Infrastructure_Funding_Announcement.jpg.