Ontario universities welcome the federal government’s important investments announced yesterday in Budget 2009 in infrastructure, graduate scholarships and research internships. These initiatives are key to the short-term stimulus of our economy and to longer-term prosperity.

“The $2 billion to repair and expand facilities at post-secondary institutions will provide jobs locally for trades people, support environmental goals with energy efficiency retrofits and, more importantly, build the foundation for future opportunities in the knowledge economy,” says Dr. Peter George, President and Vice Chancellor of McMaster University. “We applaud the federal government for its commitment to knowledge infrastructure and look forward to working with government to address priorities around research as well as the classrooms and learning centres that contribute to student success.”

George also noted the additional $750 million for the Canada Foundation for Innovation, $87.5 million for Canada Graduate Scholarships and $3.5 million for internships in science and business: “These investments are very important to boosting the volume of advanced degree holders in Canada and to fostering a creative and productive culture of research and innovation that will drive future growth. We look forward to working closely with federal and provincial governments to get this work started quickly.”

Universities are well-positioned to assist the government in kick starting economic activity as there are some $1.6 billion in campus renewal needs in Ontario alone.

Investments in graduate scholarships are important because global demand for advanced degree holders is rising at an unprecedented rate in the knowledge economy. Canada needs to produce more highly-qualified people to meet the needs of both business and government. Canada also needs robust investment in research to ensure that we continue to create the new products, services, medical treatments and cures that contribute to the economic and social well-being of our country.

Ontario’s 19 universities as well as the Ontario College of Art & Design and the Royal Military College operate on 33 campuses in 27 communities across the province. They contribute to the economic, social, cultural, and athletic life of their communities where infrastructure spending will not only create jobs but provide a visible symbol of hope to encourage further activity and investment in the Ontario economy.

“We also commend Premier McGuinty for working closely with the federal government to secure these investments that will build a better economic future and for stepping out in advance of the federal budget to commit his government to matching federal infrastructure dollars,” said Dr. Paul C. Genest, President of COU. “The Ontario government helped pave the way for these investments when they invested $400 million in deferred maintenance at our universities and colleges last year.”

“We look forward to the provincial budget where we hope further attention will be given to academic infrastructure and to investing in preserving jobs in the university sector. These jobs are currently threatened by the impact of financial markets on endowments and pensions and because operating grants are not keeping pace with the growth in student demand,” said Genest.

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For further information, please contact:

Jennifer Grass
416-707-6787
jgrass@cou.on.ca

Paul Genest
416-616-7231
pgenest@cou.on.ca