SASKATOON - The Government of Canada has accelerated its national efforts to deliver economic stimulus as quickly as possible to resource-based industries and communities across the country. Funding allocations under Canada's two-year, $40-billion Economic Action Plan have been announced in every region of the country. Today, the Harper Government is reporting on progress made by the Action Plan to provide support for communities and industries hard hit by the global recession.
"Certain communities in Canada have been hard hit by the global recession, among which are regions that depend on single industries, such as mining," said Brad Trost, MP for Saskatoon–Humboldt. "Our Government is delivering action by injecting money as quickly as possible into the communities that need it the most so that new jobs will be created and our economy will bounce back better than before."
One of these initiatives is the Community Adjustment Fund, which is expected to help create or maintain thousand of jobs over the next two years. The assistance provided by this Fund, with $306.3 million allocated for Western Canada, is in addition to support available through the $1-billion Community Development Trust. Both initiatives will help mining communities during the global economic downturn.
In the 2009 Budget, the government announced a one-year extension of the 15 percent Mineral Exploration Tax Credit to March 31, 2010, which will help junior mining companies access the venture capital they need to finance their exploration activities.
As well, the Government of Canada has recently announced accelerated funding with the Geo-mapping for Energy and Minerals (GEM) Program from $22 million to $30 million. GEM is the $100-million program for public geoscience to complete the geo-mapping of Canada's North. This accelerated funding, taken from later years, will assist the exploration industry in finding new oil, gas and mineral deposits.
Funding investments are outlined in the backgrounder Canadians Benefitting from Stimulus for Resource-Based Industries in Harper Government's Economic Action Plan.
For more information about Canada's Economic Action Plan, visit: www.actionplan.gc.ca.
The Government of Canada has accelerated its national efforts to deliver economic stimulus to resource-based communities and industries across the country. Today, the Harper Government is reporting on progress made through Canada's two-year, $40-billion Economic Action Plan to provide support for workers and communities affected by the global recession.
For information on the Community Adjustment Fund application process, visit:
Western Economic Diversification Canada:
www.wd-deo.gc.ca/ / 1-888-338-9378
Atlantic Canada Opportunities Agency:
www.acoa-apeca.gc.ca / 1-800-561-7862
Economic Development Agency of Canada for the Regions of Quebec:
www.dec-ced.gc.ca / 1-866-385-6412
Industry Canada:
http://ic.gc.ca/caf / 1-888-670-6643
Indian and Northern Affairs Canada:
www.ainc-inac.gc.ca
Yukon: 1-800 661-0451
Northwest Territories: 1-866-669-2620
For further information, please contact:
Jocelyne Turner
Office of the Minister
Natural Resources Canada
Ottawa
613-996-2007
or
Media Relations
Natural Resources Canada
Ottawa
613-992-4447
The following media backgrounder is available at www.nrcan.gc.ca/media:
- Canadians Benefitting from Stimulus for Resource-Based Industries in Harper Government's Economic Action Plan
NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.
