Yahoo Finance Ontario Budget Recognizes Critical Infrastructure is Vital to Long-Term Economic Prosperity & Building Vibrant Communities
Vaughan, Ont., April 28, 2022 (GLOBE NEWSWIRE) -- The Residential and Civil Construction Alliance of Ontario (RCCAO) welcomes the Ontario Government’s continued focussed investment in critical infrastructure to meet the needs of a growing province. The $25.1 billion in today’s Ontario Budget for highway expansion rehabilitation, roads and bridges, including the Bradford Bypass and Highway 413, is crucial to keeping people and goods on the move across Ontario and the province’s long-term prosperity.
“These critical infrastructure investments reflect an understanding that we must start to build the infrastructure of tomorrow, today.” said Nadia Todorova, Executive Director of RCCAO. “By building the Bradford Bypass, Highway 413, and transit across the province, the government is acting with welcomed foresight in laying the foundation for Ontario’s long-term continued economic development and prosperity."
The prioritization of critical infrastructure from the Ontario Government will meaningfully address the infrastructure deficit caused by years of under-investment. Additionally, it lays the foundation to meet the demands of a growing province, while modernizing Ontario’s transportation grid that includes both roads and public transit.
The budget’s allocation of $61.1 billion for transit will help grow transit-oriented communities in the province’s fastest growing regions. As the population of the province grows, demand will increase on all infrastructure, from transit, highways, roads, bridges, water and wastewater to housing.
Inaction would have real consequences. Congestion already costs the Greater Toronto Area $11 billion per year in lost productivity. Today’s budget ensures that the mistakes of the past are not repeated and infrastructure assets across Ontario will be built and maintained for everyone’s long-term prosperity.
RCCAO is also pleased to see the province continue to support municipalities with the impacts of the pandemic on their operating budgets. “The $316.2 million financial assistance matching the Federal Government’s contribution for municipalities is crucial to ensure cities’ state-of-good-repair projects proceed without interruptions or cuts,” said Nadia Todorova.
RCCAO welcomes the government’s continued focus on increasing housing supply in the province with the creation of Housing Supply Action Plans annually for the next four years. The housing crisis has a real cost for the people of Ontario. RCCAO will be a collaborative participant to see more homes built each and every year across the province.
RCCAO members are ready to work to build critical infrastructure and housing to realize the prosperous future for the people of Ontario.
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RCCAO Executive Director Nadia Todorova is available for interviews.
Background on RCCAO: The Residential and Civil Construction Alliance of Ontario (RCCAO) is a labour-management construction alliance. Since its formation in 2005, RCCAO has been a leading industry advocate for infrastructure investment. It has commissioned 60 independent, solutions-based research reports to help inform decision makers. www.rccao.com
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