An additional $3 million has also been committed from a $50 million postsecondary capital investment fund announced in the 2007 budget. This investment is expected to create 195 jobs.
Funding will go towards the construction of new classroom and lab facilities at McMaster’s new Innovation Park.
The partnership will offer more flexibility to students seeking an education in the technology sector. There is a high demand in this sector for highly skilled workers, with the Conference Board of Canada anticipating a need for up to 58,000 new workers in Canada over the next year.
Under the partnership, technology students at Mohawk will be able to use their college education toward obtaining a Bachelor Degree from McMaster.
The government has already announced funding for strategic capital projects at:
Ryerson University - $45 million
Nipissing University and Canadore College - $18 million
University of Windsor - $45 million.
The Fall Economic Statement also included $200 million in funding for campus renewal projects that improve energy efficiency and campus safety and a variety of infrastructure renewal projects. McMaster University is receiving about $9.2 million and Mohawk College will get over $3.7 million under campus renewal.
Including today’s announcement, the Ontario government has provided over $58 million to McMaster University and about $28 million to Mohawk College to support capital projects since 2003. These investments are being used to improve the quality of postsecondary education by helping respond to recent enrolment growth and meet industry demand for skilled technical workers.
This funding is part of the government’s ReNew Ontario multi-year $30 billion infrastructure investment strategy. Other recent investments under this strategy, include:
A $365 million investment in the 2007 Budget to support quality improvements at colleges and universities
$40 million provided to colleges and universities annually through the Facilities Renewal Program.
$30 million provided in 2006 through the Economic Stimulus Package to colleges in areas of the province where economic growth was slower than anticipated.
$180 million provided between 2003 and 2006 for new buildings and renovations, providing spaces for 21,000 more students.
Source: Ontario Ministry of Education [February 11, 2008]
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