The $14 billion Building in Canada Fund will be ready to accept proposals by the end of March 2014 said Prime Minister Stephen Harper while speaking to the media earlier last month.
Building Canada Fund will Help Overhaul Infrastructure across Canada
This latest plan to revamp parts of Canada’s aging infrastructure began with consultations with stakeholders across Canada that began in 2012 and included 14 roundtable discussions. The new $53 billion Building Canada Plan is the largest of its kind in the history of Canada. The Building Canada Fund will allocate $10B for provinces and territories for projects of national, regional, and local significance and another $1 billion set aside for small communities with populations under 100,000, and $4 billion for projects of national significance.
The Original Building Canada Fund Launched in 2007 Support Over 43,000 Projects across Canada
The original Building Canada Fund provided billions in stable, flexible and predictable funding for infrastructure projects over the course of 7 years. The new plan hopes to build on the success of the original Building Canada Fund.
“World-class infrastructure is the backbone of our country’s economic productivity. It helps to get goods to the market place more efficiently, and connects Canadians and our businesses to the world, generating jobs and growth. It also has the added benefit of reducing commuting times so families can spend more time together.”
– Prime Minister Stephen Harper
Ottawa Mayor Eager to Access Funds in Preparation for Nation’s 150th Anniversary
Of the thousands of projects in queue for funding through the program, the Mayor of Ottawa’s interests were focused on the cleanup of the Ottawa River in advance of celebrations set to mark Canada’s 150th anniversary taking place in 2017. The Mayor of Ottawa expressed concerns over whether or not funds could be accessed soon enough to cater to this project.
Stay Up to Date on the Building Canada Fund by Connecting with Mentor Works
Mentor Works is your one stop source for updates on the most popular small business grants and loans programs offered through provincial and federal governments. Sign up for our Canadian government funding weekly e-newsletter and follow us on your favourite social media network, including: LinkedIn and Twitter.