News Room: News Releases
Supporting Tourism in Waterloo Region
Thursday, September 10, 2009 4:04 pm
Government of Canada invests in St. Jacobs to stimulate local economy. St. Jacobs, Ontario - Harold Albrecht, MP for Kitchener-Conestoga, today announced an investment of almost $500,000 to stimulate Waterloo Region's economy under the Community Adjustment Fund (CAF) in Southern Ontario.
This investment will create immediate employment opportunities and support local economies in communities throughout Southern Ontario with populations of fewer than 250,000 that rely heavily on manufacturing and natural resources.
Today's announcement of $483,390 will be used to restore and upgrade Waterloo Central Railway's shop facilities.
"Waterloo Central Railway not only facilitates tourism with its trips between Uptown Waterloo, the Farmer's Market, and St. Jacobs," said Harold Albrecht, but "the railway is also becoming part of this area's attraction to tourists."
"These new improved facilities are welcome", said Woolwich Mayor Bill Strauss, "Our hospitality industry will benefit from these upgrades."
Ron Dancey, President of the Southern Ontario Locomotive Restoration Society, which operates Waterloo Central Railway, was grateful for the investment.
"These investments will help us maintain our fleet of vintage trains, and will improve the esthetics of our St. Jacobs station," said Dancey, "our charity will benefit, and so will the communities we serve."
This project was part of the up to $102 million investment made through the Community Adjustment Fund for 2009-2010, announced on August 27 by the Honourable Gary Goodyear, newly appointed Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). It is the government's intention to support a total of 90 projects in communities across Southern Ontario that are struggling with the effects of the global economic downturn.
Approved projects must meet the terms and conditions set out in their funding agreements. A complete list of approved projects in Southern Ontario will be made available online at www.ic.gc.ca/caf on September 10, 2009.
Applications for 2010-2011 CAF project funds will be accepted by FedDev Ontario later this year. A public announcement will be made once details are finalized.
CAF is just one in a series of initiatives introduced in the Government of Canada's Economic Action Plan designed to address the short-term effects of the economic decline on communities across Canada, while preparing our communities for long-term growth. For more information on Canada's Economic Action Plan, please visit www.actionplan.gc.ca.
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