Archived — Oshawa to Receive Government of Canada Stimulus Funding for Four Local projects
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For immediate release
September 9, 2009
OSHAWA, ON – The City of Oshawa will benefit from more than $3.5 million in funding under the Government of Canada's Economic Action Plan. The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), made the announcement today at the Oshawa municipal airport.
Through the Community Adjustment Fund (CAF), the Government of Canada will invest in four local projects in the city. Projects include improvements to the municipal airport and repairs to local sidewalks (see Backgrounder for details).
"These investments will create jobs and strengthen the local economy," said Minister of State Goodyear. "Oshawa is a dynamic community with unique strengths and challenges. We recognized the challenges, and are delivering the specialized support that communities such as yours need."
"The City of Oshawa values and appreciates the commitment and support of the federal government as it continues on its path of diversification and revitalization," said John Gray, Mayor of the City of Oshawa. "These projects will further stimulate our economy and improve our critical and much needed infrastructure."
Up to $102 million will be invested through the CAF for 2009–2010 and it is the government's intention to support a total of 90 projects in communities across southern Ontario. Approved projects must meet the terms and conditions set out in their funding agreements. A complete list of approved projects in southern Ontario will be made available online at Community Adjustment Fund on September 10, 2009.
Applications for 2010–2011 CAF project funds will be accepted by FedDev Ontario later this year. A public announcement will be made once details are finalized. For more information on the Agency, please see the FedDev Ontario Backgrounder.
CAF is just one in a series of initiatives introduced in the Government of Canada's Economic Action Plan designed to address the short-term effects of the economic decline on communities across Canada, while preparing our communities for long-term growth.
New Regional Development Agency For Southern Ontario
About the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
In Canada's Economic Action Plan, the Harper Government committed to providing short-term stimulus to communities hard hit by the recession while delivering long-term funding designed to promote economic growth, job creation and innovation. Budget 2009 provided $1 billion over five years for a new economic development agency for southern Ontario.
On August 13, 2009, Prime Minister Stephen Harper formally launched the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This new agency is charged with delivering federal government economic development programs tailored to the specific priorities of workers, businesses and communities in southern Ontario.
The Prime Minister announced his intent to have Minister of State (Science and Technology) Gary Goodyear assume responsibility for the Agency and that B.A. (Bruce) Archibald will serve as the agency's first President. Further announcements on the staffing and location of district offices are to be expected throughout the fall.
In its first year of operation, FedDev Ontario will focus on putting economic development programs into action. The Agency will assess immediate opportunities and needs, and then bridge into broader program initiatives once the agency is fully operational.
FedDev Ontario and Industry Canada will work with community stakeholders to identify and support projects that address current economic challenges.
The Agency will initially use existing programs and partnerships to expedite the provision of funds. This will start money flowing immediately into southern Ontario communities and businesses.
Funding in the first year will be approximately $206 million, including operating costs, focused on three priority areas: economic development, diversification and community development.
The Southern Ontario Development Program has been established to promote economic development, economic diversification and job creation. A core program, it will deliver close to $100 million in funding over 2009–10.
FedDev Ontario will help southern Ontario communities diversify their local economies, including into a wider range of value-added and technology driven products and services. It will provide the tools for its partners in the region to build on their strengths, positioning southern Ontario to succeed in the knowledge-based economy.
Programs to be Administered by FedDev Ontario
Southern Ontario programs to be administered by, or in conjunction with, FedDev Ontario include:
Community Adjustment Fund in Ontario
The Community Adjustment Fund (CAF) is a short-term economic stimulus for communities impacted by the global recession. Part of Canada's Economic Action Plan, the Fund supports projects that create jobs and maintain employment in and around communities that have been most severely affected by the economic downturn.
Funding is available for eligible projects that can be completed before March 31, 2010. Applications for 2010–2011 CAF project funds will be accepted by FedDev Ontario later this year.
National Research Council – Industrial Research Assistance Program
The National Research Council's Industrial Research Assistance Program (NRC-IRAP) stimulates wealth creation for Canada through technological innovation. It provides financial and technological assistance to small and medium-sized enterprises, targeting those engaged in research, development, adaptation, adoption, or commercialization of innovative products, services or processes.
IRAP already has $67.3 million in funds available, and will receive an additional $27.5 million to further build the innovative capacities of southern Ontario's small and medium-sized enterprises.
Community Futures Program
Ontario's Community Futures Program will receive an additional $30M from the Community Adjustment Fund in 2009–2010. The Community Futures Program assists rural and northern communities to strengthen and diversify their economies.
The Program is implemented through Community Futures Development Corporations (CFDCs), located in communities across the province, including 37 in rural southern Ontario. Small and medium-sized enterprises as well as non-profit organizations can receive repayable financing and important support services.
Business Development Bank of Canada
The Business Development Bank of Canada (BDC) will invest a total of $50 million in southern Ontario through venture capital firms and the BDC's own programs. These funds will help develop a high-performing, sustainable venture capital industry in the region.
The Government of Canada's Economic Action Plan committed $1 billion to provide timely, targeted economic stimulus to communities throughout Canada under the Community Adjustment Fund (CAF). In Ontario, CAF will provide $348.9 million over two years to support adjustment measures in communities most affected by the global economic downturn.
In 2009–10, Ontario will receive $102.2 million for projects in southern Ontario.
Listed below is a breakdown of the projects approved for CAF funding under the first intake in Oshawa.
|Funding Recipient||Project Title||Total CAF contribution ($)|
|City of Oshawa||Repair of Local Sidewalks||280,000|
|City of Oshawa||Improvements to the Oshawa Municipal Airport||1,072,050|
|City of Oshawa||Rehabilitation of a Vacant Lot for Redevelopment||270,000|
|City of Oshawa||Improvements to Streetlights and Parking Meters||1,900,000|
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