YCCIC Takes a Closer Look at the 2009 Federal Budget January 30, 2009
The 2009 federal budget included promising commitments that should translate into increases in infrastructure, resources and support for northern research and cold climate innovation.
The budget’s overall commitments to building infrastructure will see an investment of $12 billion over two years across Canada in public works projects such as roads, bridges, broadband internet and laboratories.
The federal commitment to improving Canada’s knowledge infrastructure includes a $750 million investment in the Canada Foundation for Innovation for leading-edge research infrastructure. This not-for-profit corporation supports the modernization of research infrastructure at Canadian universities, colleges, research hospitals and other not-for-profit research institutions.
The budget allocates $87 million over two years to improve key Arctic research facilities. Indian and Northern Affairs Canada will have up to $85 million over the next two years to invest in maintaining or upgrading key existing Arctic research facilities. Funds will be allocated on a competitive basis to projects that can be completed by March 31, 2011 with a view to providing a near-term economic stimulus while building a strong foundation for Arctic research capacity that supports government priorities. The federal government has also specifically committed to building a world-class, High Arctic research station, and the 2009 budget allocates $2 million for a feasibility study.
The budget also allocated $200 million over two years to the National Research Council’s Industrial Research Assistance Program to enable it to temporarily expand its initiatives for small and medium-sized businesses. This program helps small and medium-sized enterprises innovate by providing technical and business advice, networking services, as well as direct, non-repayable, financial assistance. This program also provides companies with support to hire recent graduates from colleges and universities for up to one year to work on innovative business strategies and technology-related projects.
Northern economic development commitments totalling $140 million includes $50 million over five years to establish a new regional economic development agency for the North and $90 million over five years to renew the Strategic Investments in Northern Economic Development program.