$6.2M investment will create jobs, expand research and foster innovation.
Friday, October 7, 2016 - London, Ontario - Innovation, Science and Economic Development Canada.
Canadians will be better equipped for the well-paying middle-class jobs of today and tomorrow as a result of a $6.2M investment in Fanshawe College.
This joint federal-provincial investment was announced today by Peter Fragiskatos, Member of Parliament for London North Centre, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and by the Honourable Deb Matthews, Deputy Premier of Ontario and Minister of Advanced Education and Skills Development.
The Government of Canada's Innovation 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 is a prime example of that vision in action.
The funding will support Fanshawe College's establishment of the Centre for Advanced Research and Innovation in Biotechnology (CARIB), which will provide labs and expertise to promote commercialization. The CARIB will advance biotechnology, chemistry, and environmental technology programs through research and innovation with industry collaborations and partnerships. Of the $6.2M investment, $4.0M will come from the federal government and $2.2M from the Government of Ontario. Fanshawe College will contribute an additional $2.8M for a total investment of $9.0M.
The funding from the Government of Canada is being 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.
That is how the Strategic Investment Fund will jump-start a virtuous circle of innovation, creating the right conditions for long-term growth that will yield benefits for generations to come.
Ontario is making the largest investment in public infrastructure in the province's history - about $160 billion over 12 years - which is supporting 110,000 jobs every year across the province with projects such as hospitals, schools, roads, bridges and transit. Since 2015, the Province has announced support for more than 475 projects that will keep people and goods moving, connect communities and improve quality of life. To learn more about infrastructure projects in your community, go to Ontario.ca/BuildON.
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