Region hopes to cash in on federal funding
There’s a lot of money available to bolster the Niagara’s economy within the 2017 federal budget.
And Regional Chair Alan Caslin said local efforts are already underway to cash in on new funding programs.
“Regional council has been quite proactive,” Caslin said, adding there’s a motion council endorsed earlier this month that he hopes will position Niagara to take advantage of opportunities associated with its status as an economic gateway.
“It’s really an excellent example of how we’re trying to stay ahead of the curve and take advantage of opportunities both within the federal and provincial framework,” he said.
Niagara Centre Liberal MP Vance Badawey is encouraging the region’s political representatives to work together to get as much of the billions of dollars in funding as Niagara needs.
“It is essential that all levels of government in Niagara continue to work together and finalize their strategic plans in order to take advantage of all that Budget 2017 has to offer,” said Badawey, who is currently part of a team visiting U.S. cities promoting trade with Canada.
He said the budget, tabled on Wednesday afternoon by Finance Minister Bill Morenau, includes billions of dollars in investment in infrastructure programs, available through the Canada Infrastructure Bank, as well as programs such as the National Trade Corridors Fund.
Caslin said one funding announcement that “bodes wells for us” is $950 million set aside in the budget to support “innovation super clusters,” groups of similar industry such as Niagara’s advanced manufacturing, wine and tourism industries.
Caslin also said the creation of a skills development agency aligns well with the region’s U35 strategy, designed to keep young people in Niagara instead of having them leave for major centres.
“I think if we can create that sort of environment here for them, it will definitely create an opportunity to have more under-35-year-olds around,” he said.
In a media release, Badawey said the federal government’s commitment to providing $20.1 billion to public transit infrastructure funding over the next 11 years can also support the region’s efforts to establish an integrated transit system.
Local municipalities implementing smart city initiatives can tap into a $300-million fund provided through a Smart Cities Challenge Fund.
“By working together and developing strategic, comprehensive community improvement/growth plans (CIPs), municipalities in Niagara can become an example for all Canadians on how to best improve the quality of life for urban residents,” Badawey said.
Caslin said the region also stands to benefit from the $11 billion announced for a national affordable housing strategy, with $5 billion to be provided immediately.
“Quite frankly, we need the funding now, so we’re putting together plans to try and attract those dollars,” he said.