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Trent University Welcomes Provincial Investments in Capital Costs


Tuesday, March 25, 2008

Trent University welcomed news contained in today’s Provincial budget highlighting an investment of $970-million in capital funding to rebuild classrooms and facilities.

“This announcement holds the potential of new funds to be invested in facilities that can add to the quality experience for our students,” said Don O’Leary, Trent’s Vice-President of Administration. “We look forward to reviewing the budget details in the coming days to determine how the budget announcements will directly impact Trent University.”

The funding was announced as part of the “Skills to Jobs Action Plan,” a broad based policy announcement supporting new investments in skills, apprenticeships and facilities. The plan is part of a five point economic plan announced in the November Throne Speech focusing on: Skills and Education; Infrastructure; Innovation; Lowering of Business Costs; and the Strengthening of Partnerships.

The budget included a number of initiatives that specifically relate to the university sector:

  • $465-million to expand postsecondary student aid and programs
  • $385-million over three years for a new Textbook and Technology Grant to help lower costs for every full-time university student annually, with grants of $150 per student this fall, $225 in the fall of 2009 and $300 in subsequent years
  • $225-million over five years for the Ontario Research Fund for investment in research infrastructure
  • $200-million in 2007-08 for the maintenance and renewal of university facilities
  • $45-million for Aboriginal education and training programs.
  • $27-million over three years for a new, annual Distance Grant to assist with transportation costs for students from rural and remote areas attending university
  • $16-million to enhance the successful Pathways to Education program and increase the number of at-risk youth finishing high school or proceeding to postsecondary education or directly to the workforce
  • More than $7-million over three years for an International Ontario Strategy to attract talented postsecondary students from around the world, raising the level of research excellence in Ontario’s universities and contributing to economic prosperity
  • More than $1-million over three years for Global Edge, a program that facilitates international work and learning opportunities for enterprising postsecondary students.
  • A proposed 10-year Ontario income tax exemption for new corporations that commercialize intellectual property developed by qualifying Canadian universities, colleges or research institutes

Mr. O’Leary emphasized that investing in the University sector is vital for students and their future, and for Ontario’s economic prosperity. “As the government approaches the conclusion of its Reaching Higher Plan in 2009-10, it will be imperative for Trent University to continue to advocate to the province about its plan to renew their long term investments in the university sector,” said O’Leary.

One of Canada's top universities, Trent University is renowned for striking a unique balance between outstanding teaching and leading-edge research. The University is consistently recognized nationally for faculty who maintain a high level of innovative research activity and a deep commitment to the individual student. Distinguished by excellence in the humanities, social sciences and natural sciences and increasingly popular professional and graduate programs, Trent is dedicated to providing its students with an exceptional world view, producing graduates who are ready to succeed and make a difference in the world. Trent's Peterborough campus boasts award-winning architecture in a breathtaking natural setting on the banks of the Otonabee River. Together with its satellite campus in Oshawa, Trent draws excellent students from throughout the country and around the world.

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For more information contact:

Brittany Cadence, Communications Officer, (705) 748-1011, ext. 6185