Infrastructure investment stimulates economic growth, creates jobs, supports a cleaner environment and enhances the overall prosperity of Ontarians.
In the summer of 2008, Ontario signed the Building Canada Plan Framework Agreement with the federal government. Under this agreement, Ontario receives $3.09 billion as part of the Building Canada Fund. Ontario's matching contribution results in a $6 billion investment towards revitalizing the province's infrastructure.
The Building Canada Fund is divided into two components:
Improving GO Transit
The federal and provincial governments have agreed to take action to upgrade and revitalize the GO Transit infrastructure and provide up to $500 million to support major GO Transit infrastructure projects. Canada will provide up to $250 million to a maximum of 50% of eligible costs of approved projects that meet eligibility and approval requirements under the Building Canada Plan and the signing of a contribution agreement with the Province.
For example, the 200,000 GTA commuters, who rely on the GO Transit system to and from work every day, will benefit from 12 GO Transit parking stations projects as part of this investment. Providing more parking will ensure that GO Transit can adapt to expected growth of ridership associated with a rising population in the GTA. This includes:
|Central||Barrie South||Building Rehab/Parking Rehab||$1,250,000.00|
|Central||Mount Pleasant||Parking Expansion||$1,100,000.00|
|Toronto||Rouge Hill||Parking Expansion||$1,500,000.00|
The investment also includes the $75.5 million Hamilton Junction Project: a rail-to-rail grade separation project that will increase reliability and improve GO train service.