On July 4, Minister of Transport Marc Garneau announced $2.1 billion in funding meant to build stronger and more efficient transportation corridors to international markets.
The Port of Prince Rupert welcomes the federal funding announcement.
“The announced federal government infrastructure funding will be critical to enabling sustainable port growth and enabling new investments in port infrastructure in the years ahead,” said Caroline Keddy, director of corporate communications. “The Port of Prince Rupert is pleased to see the fund being announced and we are reviewing criteria with respect to our long term planning.”
The city will also review criteria and potential projects that would benefit from the funding.
“The City of Prince Rupert is currently considering potential projects that may be eligible to receive the recently-announced NCTF funding,” said Veronika Stewart, communications manager for the city. “We are aware of the September deadline, and look forward to submitting an Expression of Interest to this new fund.”
The Trade and Transportation Corridors Initiative will provide the funding as part of the National Trades Corridor Fund over 11 years and is meant to improve Canada’s trade infrastructure, including ports, waterways, airports, roads, bridges, borders crossings, rail networks and the interconnectivity between them.
“Investments through the Trade and Transportation Corridors Initiative will make a big difference for Canadian businesses,” Garneau said. “It will allow them to get better access to international markets by addressing critical bottle becks and ensuring that Canada’s transportation networks remain cost competitive and efficient.”
To be considered for funding, eligible participants are required to send an expression of interest and have it received by September 5.
Eligible recipients invited to submit an expression of interest for the trades corridor fund include: provinces, territories, municipalities and local, regional, provincial and territorial entities, Indigenous governments, tribal councils and other forms of regional government, national or regional Indigenous organizations or development corporations, public sector organizations, federal crown corporations or agencies for-profit and not-for-profit private sector organizations, Canada port authorities, National Airport Systems airport authorities, universities and colleges.