Ontario launching $30 billion infrastructure funding program
Ontario’s Government announced yesterday a new infrastructure funding that will also help create and protect good jobs across the province.
“When it comes to delivering core services that matter to people, our government is putting people first,” said Monte McNaughton, Minister of Infrastructure. “Today’s historic infrastructure investment marks the start of billions of dollars in funding that will improve the wellbeing of the people of Ontario. And it is part of our plan to balance the budget in a responsible, sustainable way while creating and protecting good jobs.”
The first stream of the funding, the Rural and Northern stream, is open to cities and Indigenous communities with populations under 100,000. Those communities, about 500 of them, will have eight weeks beginning March 18th to nominate road and bridge projects.
The funding falls under the Investing in Canada Infrastructure Program, which will unlock up to $30 billion in combined federal, provincial, and local investments in communities across the province over the next 10 years.
- The Investing in Canada Infrastructure Program is a $30 billion, 10-year infrastructure program cost-shared between federal, provincial and municipal governments. Ontario’s share per project will be up to 33 per cent, or $10.2 billion spread across four streams: 1. Rural and Northern 2. Public Transit 3. Green 4. Community, Culture and Recreation.
- The first intake for the Rural and Northern stream will be open for eight weeks, and will focus on road, bridge, air or marine infrastructure in rural and northern communities with populations under 100,000 people.