WHITEHORSE, May 18, 2018 /CNW/ - The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors are key to the success of Canadian firms in the global marketplace. The Government of Canada supports infrastructure projects that create quality middle-class jobs and boost economic growth.
The Honourable Larry Bagnell, Member of Parliament for Yukon, on behalf of the Honourable Marc Garneau, Minister of Transport, announced a major investment of $6.9 million in the modernization of Yukon's Intelligent Transportation Systems technologies that will enable smarter connections on Yukon's trade corridors by giving users the data and information they need to make safe and efficient decisions.
The project will modernize infrastructure within seven components of the Intelligent Transportation Systems architecture:
The project is expected to have significant economic and employment benefits by creating 70 quality jobs during implementation.
The Government of Canada is supporting infrastructure projects that contribute most to Canada's continued success in international trade. For example, projects being funded will:
Provincial, territorial and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, federal Crown Corporations, Canada Port Authorities, and National Airport System Airport Authorities are all eligible for funding under the National Trade Corridors Fund.
"Transportation and distribution of goods are a vital part of our local, regional and national economies. The investment announced here today will make our transportation system stronger by modernizing the Yukon's Intelligent Transportation Systems and fostering long-term prosperity for our community."
The Honourable Larry Bagnell
Member of Parliament for Yukon
"Our government is investing in Canada's economy by making improvements to our trade and transportation corridors. We are supporting projects that will efficiently move commercial goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and contribute to the resilience of the Canadian's transportation network."
The Honourable Marc Garneau
Minister of Transport
"This sophisticated technology will drive future strategic investments in transportation projects. It will also deliver better highway information to the public and improve safety in Yukon communities."
The Honourable Richard Mostyn
Minister of Highways and Public Works, Government of Yukon
National Trade Corridors Fund
The $2 billion National Trade Corridors Fund is one component of the $180 billion Investing in Canada Plan, the Government of Canada's strategy for addressing long-term infrastructure needs in Canada and supporting middle-class growth and well-paying jobs. The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors is key to the success of Canadian firms in the global marketplace.
The Government of Canada is providing support for well-functioning trade corridors that will allow Canadians to compete in key global markets and trade more efficiently with international partners. It represents a long-term commitment by the Government of Canada to work with stakeholders on strategic infrastructure projects that help to address transportation bottlenecks, vulnerabilities and congestion along Canada's trade corridors.
The National Trade Corridors Fund is also a key element of Transportation 2030, the Minister of Transport's strategic plan for the future of transportation. The development of this vision, including the National Trade Corridors Fund, has been informed by extensive engagement with Canadians from coast to coast to coast, along with insights contained in the 2015 Canada Transportation Act Review report.
The National Trade Corridors Fund is a merit-based program designed to help infrastructure owners and users invest in the critical assets that support economic activity and the physical movement of commercial goods and people in Canada.
A total of $2 billion over 11 years has been allocated for the National Trade Corridors Fund, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
Provincial, territorial and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, federal Crown Corporations, Canadian Port Authorities, and National Airport System Airport Authorities were invited to submit proposals to Transport Canada which were then evaluated against the eligibility criteria for the program.
Types of projects that meet the eligibility criteria include, for example, ports, airports, roads, railways, intermodal facilities, international bridges and border crossings ? assets that are the primary building blocks of the supply chains that enable the physical exchange of goods around the world and also support the critical movement of people and goods in Canada's Northern territories.
In addition to the $2 billion of investments under the National Trade Corridors Fund, the Canada Infrastructure Bank will invest at least an additional $5 billion to address trade and transportation projects.
SOURCE Transport Canada
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