(Toronto, March 23, 2011) – Colleges Ontario, which represents the province’s 24 public colleges, applauds the federal government’s budget for its commitments to higher education.
“The budget recognizes the important role colleges play in strengthening the economy,” said Linda Franklin, president and CEO of Colleges Ontario. “The budget includes some particularly important commitments to college research activity that strengthens innovation and productivity in Canadian businesses.”
The budget contains an $80-million commitment in new funding over three years through the Industrial Research Assistance Program to help small- and medium-sized businesses accelerate their adoption of key information and communications technologies through collaborative projects with colleges.
It also commits to create 30 new industrial research chairs at colleges with $3 million in 2011-12 and $5 million per year on a permanent basis, starting in 2012-13.
The budget also promises $12 million over five years to support joint college-university commercialization projects. As well, the budget includes a commitment to forgive a portion of federal student loans for nurses who agree to practice in remote areas, along with the other measures to support students.
“These investments recognize the need to support businesses in order to return our economy to full productivity and take on a global leadership role going forward,” said Franklin.
Should the budget be defeated, Franklin said the colleges will continue to advocate for investments into applied research and other measures to strengthen higher education.
For more information:
Manager, Media Relations and Communications
647 217-4109 (Cell)