TECUMSEH, ON, Oct. 26, 2020 /CNW/ – The safety and well-being of Canadians remains the Government of Canada’s top priority as the COVID-19 pandemic continues. The federal government is taking decisive action to support families, businesses and communities, and continues to look ahead to see what more can be done. Investing in infrastructure to create jobs and strengthen local economies is a key part of these initiatives.
In recent years, the communities of Tecumseh and Windsor experienced catastrophic storms that caused significant flood damage to local residences and businesses. Now more than ever, communities need help adapting to these intensifying weather events caused by climate change.
Today, Irek Kusmierczyk, Parliamentary Secretary to the Minister of Employment, Workforce Development and Disability Inclusion and Member of Parliament for Windsor−Tecumseh, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities, and his Worship Gary McNamara, Mayor for the Town of Tecumseh, announced significant funding to reduce the impact of severe storms and flooding in the Town of Tecumseh.
The Government of Canada is investing $10.7 million in this flood resiliency project through the Disaster Mitigation and Adaptation Fund (DMAF). This is the single largest federal investment in Tecumseh’s history. The Town is also contributing more than $16 million to complete the project.
The work involves the construction of and improvements to four infrastructure assets: decommissioning of the St. Mark’s Pump Station; construction of a new consolidated Scully and St. Mark’s Pump Station; improvements to the PJ Cecile Pump Station and; improvements to the storm sewers at two locations to move storm water runoff to the consolidated Scully and St. Mark’s pump station.
This investment is just one of many regional flood-related projects recently funded by the Government of Canada, including a historic $32,090,691 investment in flood mitigation for Windsor in 2019.
Quotes
“On my very first day as MP for Windsor–Tecumseh, I met with Mayor McNamara to discuss key priorities for the Town of Tecumseh. With severe weather events on the rise, funding from the Disaster Mitigation and Adaptation Fund was outlined as a critical need. I am proud of the terrific collaboration between our federal government and the Town to deliver this important investment for the residents of Tecumseh. Once complete, the Tecumseh flood resiliency project will protect residences and businesses from the severe effects of flooding.”
Irek Kusmierczyk, Parliamentary Secretary to the Minister of Employment, Workforce Development and Disability Inclusion and Member of Parliament for Windsor−Tecumseh, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities
“Flooding continues to be the most frequent and costly natural disaster in Canada. By investing in infrastructure, the Government of Canada is helping communities, like the Town of Tecumseh, increase their resiliency. The DMAF helps protect Canadians by reducing the risk of climate change and the long-term costs associated with replacing infrastructure following natural disasters.”
The Honourable Bill Blair, Minister of Public Safety and Emergency Preparedness
“My Council colleagues and I have heard from residents that more needs to be done to protect them from flooding and flood mitigation is a vital priority for our Council. This funding will assist in building our town’s resiliency and keeping our community and its residents safe.”
His Worship Gary McNamara, Mayor of the Town of Tecumseh
Quick facts
Windsor and Tecumseh have received over $50 Million to fund 16 projects related to flooding and wastewater.
The Disaster Mitigation and Adaptation Fund (DMAF) is a $2-billion, 10-year program to help communities build the infrastructure they need to better withstand natural hazards such as floods, wildfires, earthquakes and droughts.
To date, more than $1.7 billion has been announced through DMAF for 60 large-scale infrastructure projects that will help protect communities across the country from the threats of climate change.
DMAF is part of the federal government’s Investing in Canada plan, which is providing more than $180 billion over 12 years for public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and rural and northern communities.
To support Canadians and communities during the COVID-19 pandemic, a new stream has been added to the over $33-billion Investing in Canada Infrastructure Program to help fund pandemic-resilient infrastructure. Existing program streams have also been adapted to include more eligible project categories.
The COVID-19 Resilience Stream will help other orders of governments whose finances have been significantly impacted by the pandemic by increasing the federal cost share for public infrastructure projects.
The Canada Healthy Communities Initiative will provide up to $31 million in existing federal funding to support communities as they deploy innovative new ways to adapt spaces and services to respond to immediate and ongoing needs arising from COVID-19 over the next two years.
For further information: Contacts: Chantalle Aubertin, Press Secretary, Office of the Minister of Infrastructure and Communities, 613-949-1759, [email protected]; Lesley Reeves, Manager Strategic Initiatives, Town of Tecumseh, 519-735-2184 ext 150, [email protected]; Media Relations: Infrastructure Canada, 613-960-9251, Toll free: 1-877-250-7154, [email protected]
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
