WATERLOO – Peter Braid, Member of Parliament for Kitchener–Waterloo, and Leeanna Pendergast, MPP for Kitchener–Conestoga, Friday announced a joint investment of $50 million in two projects at the University of Waterloo. The federal and provincial governments are contributing $25 million each toward the funding of the University’s Engineering and Math Project and the Faculty of Environment Project.

“The University of Waterloo has a strong reputation for leadership in innovation, and for expertise in mobilizing learning and research for future discovery,” said Braid. “Our government’s funding will further advance these goals and opportunities, and reinforce this community’s prominence as a centre of education excellence. At the same time, the construction of these facilities will put people to work and benefit our local economy.”

“Investing in the skills and knowledge of Ontarians is a cornerstone of our government’s plan to strengthen the economy,” said Leeanna Pendergast MPP for Kitchener-Conestoga.  “By investing at the University of Waterloo today, the Ontario government is supporting new construction and renovation projects which will create construction jobs in the short-term and provide more opportunities for our students to develop the skills they need for the jobs of the future.”

"Our federal and provincial leaders are to be commended for their joint support of these two important projects," said David Johnston, president of the University of Waterloo. "The University's engineering and mathematics project will ultimately increase Canada's advantage in key areas that include ICT, health and energy. Our proposed environmental research cluster will help produce the intellectual capital and research needed to ensure that growth in Ontario is driven in an intelligent and sustainable fashion."

The federal investment is part of the second and final round of funding under the Knowledge Infrastructure Program, the federal government’s two-year, $2 billion plan to repair and expand research and educational facilities at colleges and universities across Canada. The provincial funding comes under the Ontario Budget 2009 commitment to invest in Ontario’s colleges and universities over two years.

On Monday, the first round of funding under these two programs was announced, including the investment of $50 million in the Balsillie Centre for Excellence in Global Policy, and $26 million in the Laurier Brantford Research Academic Centre.

Demonstrating their commitment to stimulating the economy and creating jobs, both the Governments of Canada and Ontario are moving forward with a number of large-scale infrastructure programs to assist Ontarians when they need it most.

Through the 2009 Ontario Provincial Budget – Confronting the Challenge: Building Our Economic Future – the province is investing $32.5 billion in infrastructure for Ontario over the next two years, including a $5 billion contribution from the federal government that will support more than 300,000 jobs and strengthen Ontario’s economy. These investments build on the Ontario government’s five-year, $30 billion ReNew Ontario infrastructure investment plan, which was completed in 2008-09, one year ahead of schedule.

Canada’s Economic Action Plan sets out to stimulate the Canadian economy over the next two years and to improve our long-term competitiveness through $12 billion in new infrastructure investment, across Canada, which includes the $2 billion Knowledge Infrastructure Program. This new support is the next substantive investment in the Government of Canada’s multi-year Science and Technology Strategy, Mobilizing Science and Technology to Canada’s Advantage.