Prime Minister Justin Trudeau has announced his government’s $10 billion plan to create jobs and spur economic growth. Through the Canada Infrastructure Bank, the government plan includes five major infrastructure initiatives expected to create approximately 60,000 jobs across the country.
As part of the Government of Canada’s plan to “build back better,” the three-year plan will connect more households and small businesses to high-speed Internet, strengthen Canadian agriculture, and help build a low-carbon economy, according to a press release.
The Growth Plan’s five initiatives include:
- $2.5 billion for clean power to support renewable generation and storage and to transmit clean electricity between provinces, territories, and regions, including to northern and Indigenous communities;
- $2 billion to connect approximately 750,000 homes and small businesses to broadband in underserved communities, so Canadians can better participate in the digital economy;
- $2 billion to invest in large-scale building retrofits to increase energy efficiency and help make communities more sustainable;
- $1.5 billion for agriculture irrigation projects to help the agriculture sector enhance production, strengthen Canada’s food security, and expand export opportunities; and,
- $1.5 billion to accelerate the adoption of zero-emission buses and charging infrastructure so Canadians can have cleaner commutes.
To accelerate the delivery of projects in which the CIB intends to invest, it will also allocate $500 million for project development and early construction works.