$44.2-million investment will create jobs, expand research and foster innovation TORONTO, Nov. 21, 2016 /CNW/ - The Government of Canada values the role of post-secondary institutions as they help equip young Canadians with the education and training they need for future careers that will help them join a strong, healthy middle class. Today's $44.2-million investment in Centennial College will do just that by fostering the training needed for the well-paying middle-class jobs of today and tomorrow. The funding was announced today by the Honourable Kirsty Duncan, Minister of Science, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and by Ontario Premier Kathleen Wynne. Michael Levitt, Member of Parliament for York Centre, was also on hand for the announcement. Canada'sInnovation Agenda aims to make this country a global centre for innovation—one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment exemplifies that vision in action. Centennial College will receive $44.2 million for the creation of the new Centennial Downsview Park Aerospace Campus. This new campus, which incorporates part of the former de Havilland building at Downsview Park, is the first phase in the development of an aerospace hub. In bringing together academic institutions and industry under one roof, this hub will stimulate and accelerate collaborative efforts in post-secondary curriculum enhancement, research and development, and technology commercialization. Federal-provincial funding announced today for this project includes:
$18.4 million from the Government of Canada; and
$25.8 million from the Province of Ontario.
Centennial College and other sources will provide an additional $28.23 million, for a total project investment of $72.43 million. In total, universities and colleges throughout Ontario will receive more than $1.9 billion from the Government of Canada, the provincial government, the institutions themselves and private donors. Federal funding will be allocated through the Post-Secondary Institutions Strategic Investment Fund, which will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities. As a result of these investments, students, professors and researchers will work in state-of-the-art facilities that advance the country's best research. They will collaborate in specially designed spaces that support lifelong learning and skills training. They will work in close proximity with partners to turn discoveries into products or services. In the process, they will train for—and invent—the high-value jobs of the future. And their discoveries will plant the seeds for the next generation of innovators.