Budget 2024 Prepares Ontario for Growth; Construction Budget is Needed Action on Ontario’s Plans to Build

Vaughan, ON, March 26, 2024 (GLOBE NEWSWIRE) — The Residential and Civil Construction Alliance of Ontario (RCCAO) commends the Government of Ontario’s continued investment in critical infrastructure across the province in Budget 2024, Building a Better Ontario. This is a budget focussed on construction, with real action on Ontario’s plans to build critical infrastructure for a growing province.

Budget 2024 recognizes that with Ontario’s population growing at a record pace, building and maintaining critical infrastructure like roads, housing, transit, water and wastewater capacity is key to ensuring the province will continue to have a strong economy and high quality of life.

Advertisement

RCCAO welcomes the Government of Ontario’s renewed commitment to building transformational transportation infrastructure projects, including Highway 413 and the Bradford Bypass. Earlier this month, polling commissioned by RCCAO and ORBA revealed that a clear majority of Ontarians support the construction and expansion of new road infrastructure, with 2:1 expressing support for Highway 413 and the Bradford Bypass. 

“The investments in critical infrastructure in Budget 2024 are a reflection of the priorities of the people of Ontario,” said Nadia Todorova, Executive Director of RCCAO. “Ontarians recognize that highways, water infrastructure capacity and housing are crucial to tackle some of the province’s biggest challenges and we are pleased that the Ontario government has answered their calls to build.”

RCCAO is encouraged by the progress the province has made with Ontario’s new infrastructure bank, known as the Building Ontario Fund. The government’s $3 billion allocation to this fund offers the potential to get more projects built by leveraging public infrastructure dollars to attract additional institutional capital. Allowing for more innovative sources of funding for infrastructure work is a positive step toward ensuring that Ontario has the necessary foundation for a prosperous and competitive future.

Building on the $860 million already committed, RCCAO is also pleased to see an additional $100 million investment in the Skills Development Fund Training Stream to assist with the recruitment, training, and retention of a new generation of builders.

The priorities outlined in today’s budget highlights the long-term need to build and upgrade infrastructure across Ontario. RCCAO welcomes the Ontario government’s continued efforts to confront these issues with focussed investments in critical infrastructure, like the $1.8 billion for  housing-enabling infrastructure, that will set the stage for a prosperous and sustainable future for all Ontarians. 

RCCAO Executive Director Nadia Todorova is available for interviews.

Background on RCCAO: The Residential and Civil Construction Alliance of Ontario (RCCAO) is a labour-management construction alliance. Since its formation in 2005, RCCAO has been a leading industry advocate for infrastructure investment. It has commissioned 61 independent, solutions-based research reports to help inform decision makers. Learn more about RCCAO’s work at www.rccao.com.


RCCAO Members on Ontario Budget 2024


“The Government of Ontario’s ambitious vision of building Ontario for the future should be commended. Transformational infrastructure projects like Highway 413 and the Bradford Bypass are critical to the province’s economy and quality of life, while investments in housing-enabling infrastructure make the development of thriving communities possible. The realization of this vision ensures that Ontario is prepared to grow in a sustainable and resilient manner for the benefit of current and future residents.”
Peter Smith
Executive Director
Heavy Construction Association of Toronto (HCAT)

“The 413 and Bradford Bypass are transformative investments. They are forward-thinking projects that will help to ‘future-proof’ our communities from the expected levels of growth in the GTA over the next two decades. They demonstrate the Ford government’s clear long-term vision for the province of improving economic development, building more homes, and ensuring greater integration between our communities.”
Patrick McManus
Executive Director
Greater Toronto Sewer and Watermain Association 

“Highway 413 and the Bradford Bypass represent vital arteries for the Greater Toronto Area’s future economic growth, connectivity, and quality of life. The Ontario Government’s steadfast commitment to these projects underscores its recognition of the pivotal role transportation infrastructure plays in driving prosperity. We also applaud the Ministry of Transportation’s continued practice of using recycled aggregate in the construction of its 400-series highways to protect natural resources and reduce carbon emissions.” 
Raly Chakarova
Executive Director
Toronto and Area Road Builders Association (TARBA)

“Enduring transportation infrastructure investment is crucial to Ontario’s future economic prosperity as we can’t build the homes we need without it or support the growth of businesses the province needs.  The 2024 Ontario Budget continues the province’s commitment to the projects that will deliver for the people of this province.”
Richard Lyall
Executive Director
Joint Residential Construction Association

Attachment

  • RCCAO News Release on Ontario Budget 2024

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.