The Federal Gas Tax Fund at Work in Newfoundland and Labrador

OTTAWA, ONTARIO--(Marketwired - July 31, 2015) - Infrastructure Canada

The Government of Canada is proud to announce that the first installment of the annual allocation of the federal Gas Tax Fund has been made available to Newfoundland and Labrador municipalities. The annual $2-billion federal Gas Tax Fund allocation will provide over $29.8 million in 2015-2016 to help Newfoundland and Labrador communities build and rehabilitate their infrastructure.

Every year, municipalities benefit from the support and flexibility of the federal Gas Tax Fund. They can pool, bank and borrow against this funding, providing significant financial flexibility to plan infrastructure projects over the long term. Projects are chosen locally and prioritized according to the infrastructure needs of each community. Since 2006, municipalities across Newfoundland and Labrador have benefited from over $236.7 million towards funding for local infrastructure priorities under the Fund.

Between 2014 and 2024, Newfoundland and Labrador municipalities will receive an estimated $325 million in new federal infrastructure funding through the Gas Tax Fund.

Quick Facts

• To date, $15 billion has been made available to Canadian municipalities through the federal Gas Tax Fund, with close to $22 billion flowing over the 10-year duration of the renewed agreements.
  
  
• On average, the federal Gas Tax Fund supports 250 projects per year in Newfoundland and Labrador, such as:
  
  
  • the re-development of an old landfill site into a modern, multi-purpose waste management centre in Robin Hood Bay, St. John's;
    
    
  • a new and improved water chlorination system in Harbour Grace;
    
    
  • the new Central Newfoundland Waste Management Facility in Norris Arm;
    
    
  • energy-efficiency retrofits for Appleton's Town Hall; and
    
    
  • multiple road rehabilitation projects throughout the province.
    
    

Quotes

"Since 2006, the Government of Canada has made significant improvements to the federal Gas Tax Fund, taking concrete action on its commitment to ensure it delivers flexible, indexed and predictable long-term funding to communities across Canada. Investments through the federal Gas Tax Fund are helping Newfoundland and Labrador's municipalities address their local infrastructure priorities while contributing to creating jobs, promoting productivity and supporting economic growth. This first installment of 2015 will continue to benefit residents across the province."

The Honourable Rob Moore, Regional Minister for Newfoundland and Labrador, Minister of State (Atlantic Canada Opportunities Agency) and Member of Parliament for Fundy Royal

Associated Links

To learn more about the federal Gas Tax Fund visit: http://www.infrastructure.gc.ca/plan/gtf-fte-eng.html.

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

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

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