Minister Goodyear Highlights the Next Phase of Canada's Economic Action Plan's Benefits to Kitchener-Waterloo-Cambridge

WATERLOO, ONTARIO--(Marketwire - March 23, 2011) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario, today highlighted benefits to families and businesses in Kitchener-Waterloo-Cambridge in the Next Phase of Canada's Economic Action Plan. While speaking to the Kitchener-Waterloo Chamber of Commerce, the minister emphasized the government's low-tax plan for jobs and growth, which keeps the government on track to return to balanced budgets.

"The Next Phase of Canada's Economic Action Plan reiterates our government's commitment to keeping our economy as our top priority," said Minister Goodyear. "We are providing the necessary tools to unleash the potential that exists here in southern Ontario, create jobs and provide new opportunities for businesses to expand and reach new markets."

Building on the sustainable, low-tax environment and growth-friendly policies put in place since 2006, the Next Phase of Canada's Economic Action Plan will focus on supporting job creation, supporting families and communities, investing in innovation, education and training, and preserving Canada's fiscal advantage.

"This budget demonstrates the Government of Canada's commitment to the economic well-being of the people of Waterloo Region," said Peter Braid, Member of Parliament for Kitchener-Waterloo. "It will ensure we can continue to address the unique needs of this region, and make a meaningful difference for our families, businesses and community organizations."

During his speech, Minister Goodyear discussed a new $50-million five-year investment in the Perimeter Institute for Theoretical Physics to support its leading research, education and public outreach activities and additional government commitments in support of research, development and higher education, such as establishing 30 Industrial Research Chairs at colleges and polytechnics and extending advanced research for students at these institutions.

The Minister also mentioned measures that benefit small businesses across the country and in the Kitchener-Waterloo region, such as the extension of the accelerated capital cost allowance rate for investment in manufacturing or processing machinery and equipment for two years.

The Next Phase of Canada's Economic Action Plan provides benefits to families and businesses, a low-tax plan for jobs and growth, which keeps the Government on track to return to balanced budgets in the medium term.

For additional information on the Next Phase of the Government's Economic Action plan, please visit www.actionplan.gc.ca