Improving Cultural Infrastructure in Cambridge
Infrastructure investment stimulates economic growth, creates jobs, supports stronger communities and enhances the overall prosperity of Ontarians.
This project will see the construction of a 15,000 square foot, 500-600-seat performing arts complex in the historic downtown section of Galt; a 65,000 square foot facility to support Drayton Entertainment administration and production; and technical upgrades to several of Drayton Entertainment's six existing Ontario venues..
This collaborative funding initiative with the City of Cambridge, the Ontario Government and the Government of Canada, will help revitalize the downtown core and contribute greatly to the quality of life in the city. Cambridge will become a focal point for the Canadian arts community, showcasing artistic and cultural activities that celebrate the Cambridge area's unique heritage. It will also help create jobs, attract skilled workers, and generate more visitors to the city.
This project has been identified as a priority for funding and as such, both the federal and provincial government will each set aside $6 million or two-thirds of the total cost. The City of Cambridge will also contribute $6 million to the $18 million total cost.
In the summer of 2008, Ontario signed the Building Canada Plan Framework Agreement with the federal government. Under this agreement, Ontario receives $3.09 billion as part of the Building Canada Fund. The Government of Ontario's matching contribution results in a $6-billion investment towards revitalizing the province's infrastructure.
Federal and provincial financial support for this project is conditional on it meeting all applicable eligibility and approval requirements under the Building Canada infrastructure plan and the signing of a contribution agreement.
The Government of Canada's 2009 Economic Action Plan is accelerating and expanding the existing federal investment of $33 billion in infrastructure across Canada with almost $12 billion in new infrastructure stimulus funding over two years.
Through the 2009 Ontario Budget - Confronting the Challenge: Building Our Economic Future - the province is investing $32.5 billion in infrastructure for the province of Ontario over the next two years, including a $5 billion contribution from the federal government that will support more than 300,000 jobs and strengthen Ontario's economy. These investments build on the government's five-year, $30 billion ReNew Ontario infrastructure investment plans, which will be completed in 2008-09, a full year ahead of schedule.