Sheridan President Welcomes 2009 Ontario Budget
Dr. Robert Turner says the 2009 Ontario Budget is good news for the college sector, its students and the economy.For Immediate Release: March 27, 2009
Dr. Robert Turner says the 2009 Ontario Budget is good news for the college sector, its students and the economy.
"The funds allocated to colleges are highly valued, particularly in this economy," says Turner. "This will allow colleges to educate stronger, more highly-skilled graduates who will contribute to future economic prosperity."
"The investments in areas such as skills training extend our ability to turn the students of today into the workplace-ready employees required by an ever-changing, challenging labour market," he added.
Turner singled out the $50 million annual proposed enhancements to the Co-operative Education Tax credit and to the Apprenticeship Training Tax Credit, making the latter the most generous in Canada, as particularly important. Sheridan provides training to approximately 500 apprenticeship students each year.
Additional funding announcements affecting colleges include:
- Infrastructure – $780 million committed to capital funding for Ontario colleges and universities.
- Operating – for 2008-2009, $150 million in operating funds for colleges and universities. A portion of this funding recognizes enrolment growth in the college system.
- Applied Research –$10 million over three years for the Colleges Ontario Network for Industry Innovation.
- Skills training – $90 million over two years to assist new Canadians with training and mentorship.
Turner also said the $10 million investment in Colleges Ontario Network for Industry Innovation is an investment in the success of small and medium-sized enterprises.
"Colleges like Sheridan specialize in hands-on applied research, technology transfer and commercialization. What this really means is that we help businesses and industry get products to market faster."
As well, the impact of tax harmonization on colleges is cost-neutral and will not result in increased costs for students.
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