Regional Development Corporation

$12-million investment made in Atlantic Baptist University (09/06/04)

NB 796

June 4, 2009

MONCTON (CNB) - A $12-million investment in Atlantic Baptist University (ABU) was announced today by Post-Secondary Education, Training and Labour Minister Donald Arseneault and federal Industry Minister Tony Clement.

"We are pleased that ABU is receiving funding for a much-needed expansion," said Arseneault. "ABU plays an important economic and educational role in the Greater Moncton area."

Arseneault participated on behalf of Finance Minister Victor Boudreau, who is also minister responsible for the Regional Development Corporation.

Project funding is cost-shared between Industry Canada through its Knowledge Infrastructure Program (KIP) and the Regional Development Corporation.

New Brunswick is receiving $49 million through KIP, with $36.8 million going to universities, and $12.25 million going to the community college system.

"KIP provides an opportunity for effective partnerships between the provincial and federal governments during the renewal and rebuilding of strong Canadian and provincial economies," said Premier Shawn Graham. "This funding, coupled with our recent substantial capital investments in community colleges and universities, will allow New Brunswick to continue moving forward on the road to self-sufficiency."

"At a time of economic uncertainty, the Government of Canada is making a strong intervention to stimulate economic activity through KIP," said Clement. "This initiative to renew Canada's college and university infrastructure will provide a significant short-term economic stimulus and put many people to work, while also strengthening Canada's position as a world leader in science and technology for the benefit of all Canadians."

As part of Canada's Economic Action Plan, the Government of Canada introduced KIP, a two-year, $2-billion economic stimulus measure to support infrastructure enhancement at Canadian post-secondary institutions.

09/06/04

MEDIA CONTACTS: Marie-Josée Groulx, communications, Department of Post-Secondary Education, Training and Labour, 506-444-3465; Pema Lhalungpa, press secretary; Office of Industry Minister Tony Clement, 613-995-9001.

09/06/04