Ottawa Construction News staff writer
The Ontario government recently announced $2.5 million in funding for community-building projects in Kanata.
“Through the Regional Development Program, our government is making targeted investments in communities across Ontario. Projects like Kanata North Business Association’s Hub350 and the Municipality of Mississippi Mills development of their municipal lots help build communities, and attract investment and businesses,” said Ontario Premier Doug Ford.
“Projects like these are part of our Building Ontario plan, to create economic prosperity in every corner of our province. Today’s announcements will help create prosperity in Kanata and Mississippi Mills.”
Investments will help attract local and global investments and businesses, as well as make these communities increasingly attractive to employers and future employees.
The Kanata North Business Association is investing $3 million to help attract Canadian and global investment and businesses to the Kanata North Technology Park. With $1.5 million from the Eastern Ontario Development Fund, the association will promote regional economic development on a global scale for the 543 Kanata North member companies.
Dubbed “Hub350”, the project will serve as the physical gateway to the technology park by bringing together corporate partners, academic institutions, investors, banks and government funders to accelerate the growth of companies at a technology centre. The project will also establish a Digital Lab to promote innovation with five national media partners to broadcast news, events and history from Kanata North to attract investment and businesses to the park.
“We have a vision for Kanata, that will see Canada’s largest technology park transform into the preeminent region in the country to live, work, play and learn,” said Jamie Petten, Kanata North Business Association President and Executive Director. “With generous support from the Province of Ontario, Hub350 is the magnetic force that brings it all together, moving things forward as that vision becomes a reality.”
Companies in the Technology Park – the largest in Canada – contribute $2 billion in annual tax revenues to the province. The project will play an important role in connecting talent with growing companies. The recent opening of the University of Ottawa and Carleton University’s Kanata-North campuses supports a successful partnership and a close integration of academic institutions in the technology park.
Hub350 will foster the growth and success of existing locally founded companies, while also protecting the direct investments made by foreign multinationals who operate in the technology park.
The Municipality of Mississippi Mills is investing more than $2.1 million to expand and develop 10 new municipal lots totalling 11 acres in its business park in Almonte to tackle major infrastructure plans for the park, including site preparation, earthworks, storm drainage, installation of watermains, sanitary sewers, roadworks, natural gas and hydro, as well as telecommunication utilities.
“Completion of the third and final phase of our business park with the creation of 10 serviced commercial lots has been a key priority for our Council,” said Christa Lowry, Mayor of the Municipality of Mississippi Mills.
“Thanks to this significant funding investment from the Eastern Ontario Development Fund we are able to expand the business park and add opportunities for existing business growth and new business development that will increase job opportunities in the Municipality, leverage our existing infrastructure, increase annual tax revenue and drive creative commercial and industrial growth.”