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Connecting Residents and Businesses to the Digital Economy in Lambton County – Government of Ontario News

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Faster, reliable internet will create jobs and opportunities in rural and remote Ontario

(Watford, ON) – Ontario is delivering on its commitment to create even more economic and educational opportunities in rural, remote and underserved areas of the province through an improved, modern broadband network in Southwestern Ontario. The province announced that Brooke Telecom has been contracted to bring reliable internet to Lambton County.

Parliamentary Assistant Randy Pettapiece, on behalf of Ernie Hardeman, Minister of Agriculture, Food and Rural Affairs, along with Monte McNaughton, MPP for Lambton-Kent-Middlesex and Bob Bailey, MPP for Sarnia-Lambton were in Watford, Ontario today to make the announcement.

The contract, awarded by Southwestern Integrated Fibre Technology (SWIFT), is the latest step in the expansion of broadband internet access in Southwestern Ontario.

Brooke Telecom will implement a fibre-to-the-home project, consisting of 149.5 kilometres of fibre to service 536 premises, just east of Petrolia. The project will invest $5.8 million in broadband infrastructure, including funding from federal, provincial and municipal governments. Construction on the infrastructure is expected to begin in April 2021, with completion by December 2022.

PA Pettapiece and MPP McNaughton also visited Kettle and Stony Point First Nation to announce that internet service provider, Execulink, has begun construction. This jointly-funded project totaling $2.7 million will see 35 kilometres of fibre optic cable installed and will bring broadband service to the First Nation community. Construction is expected to be completed by December 2020. Combined, these two projects are worth up to $8.5 million and will result in 185 kilometres of fibre optic cable being laid, giving broadband access to more than 1,500 homes and businesses in Lambton County.

“In our first mandate, we invested to connect nearly 400,000 households by 2023 through the Connect to Innovate program; more ambitious than any other government,” said the Honourable Maryam Monsef, Minister of Women and Gender Equality and Rural Economic Development. “Work is underway every day and in the next 18 months, we will connect 250,000 of these households. Our plan is working because we are working with our partners at the community level. We are about to open new calls for proposals to connect 100% of Canada’s communities to reliable, quality internet access. Our number one goal over the coming months will be supporting high quality plans and applications from every community who needs better access. Together, with partners like those involved here in Lambton County, we will achieve universal internet access so that geography does not determine any Canadian’s access to this essential service. Congratulations to hardworking local MPs and all involved!”

“For too long connecting rural communities with high-speed internet hasn’t been treated with enough urgency — our government has changed that,” said Monte McNaughton, MPP for Lambton-Kent-Middlesex. “Improving connectivity for homes and businesses is critical for people to participate effectively in this highly competitive global economy.”

“In the past few months we’ve seen how important it is for individuals, families, and businesses to be able to connect online through reliable, high speed internet connections,” said Bob Bailey, MPP for Sarnia-Lambton. “Today’s announcement is another positive step toward the goal of expanding internet access in underserved areas of rural Southwestern Ontario and will help to retain and attract families and businesses to Lambton County.”

“This project will have a very positive impact in additional areas of Lambton County,” said Bill Weber, Lambton County Warden and SWIFT Board Member. “We are pleased to have been able to provide the additional funding to make this project happen in partnership with SWIFT and Brooke Telecom as we move a step closer to closing the connectivity gap in the province.”

“The advancement of this project with the support of many great new relationships, allows Kettle and Stony Point First Nation the opportunity to continue to thrive and grow. The boost in educational and economic impacts from this investment will be felt for years to come.” – Chippewas of Kettle and Stony Point Chief Jason Henry.

The Ontario government recognizes how important rural broadband access is for individuals, families and businesses. Work continues to bridge the gaps in broadband access in Southwestern Ontario, as part of a combined $190 million investment to bring fast, reliable internet to thousands of homes and businesses.

Creating more ways to strengthen rural economies is part of the government’s plan to build Ontario together. Reliable and affordable broadband internet will allow communities to attract new development, strengthen local economies and create more well-paying jobs and opportunities in rural Ontario.

Quick Facts

  • SWIFT Inc. is a not-for-profit corporation initiated by the Western Ontario Wardens’ Caucus to address connectivity in Southwestern Ontario that will support the critical expansion of broadband to underserved areas.
  • The Ontario government’s Broadband and Cellular Action Plan is expected to generate up to $1 billion in total investment over five years, resulting in new connections for up to 220,000 homes and businesses. This will lead to community, social and economic benefits well beyond the provincial investment.
  • The Ontario government will continue to expand access to broadband and cellular service through the Improving Connectivity for Ontario program (ICON). This multi-year program aims to support approved projects as early as 2021.

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China's economy remains resilient despite external risks, says Xi – Reuters Canada

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FILE PHOTO: Chinese President Xi Jinping arrives for the meeting to commend role models in China’s fight against the coronavirus disease (COVID-19) outbreak, at the Great Hall of the People in Beijing, China September 8, 2020. REUTERS/Carlos Garcia Rawlins

BEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday.

The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say policymakers face a tough job to maintain stable expansion over the next several years to turn China into a high-income nation.

“The basic characteristics of China’s economy with sufficient potential, great resilience, strong vitality, large space for manoeuvre and many policy instruments have not changed,” Xinhua news agency quoted Xi as saying.

China has strong manufacturing capacity, very large domestic markets and huge investment potentials, Xi said.

Xi reaffirmed a “dual circulation” strategy that would help steer the economy towards greater self-reliance, as U.S. hostility and a global pandemic increase external risks.

China still enjoyed “strategic opportunities” in its development, although the coronavirus pandemic has exacerbated global challenges as globalisation slows and unilateralism and protectionism are rising, Xi was quoted as saying at a meeting on the country’s 14th five-year plan (2021-2025).

“We must seek our development in a more unstable and uncertain world,” he said.

Xi urged calmness amid rising difficulties and challenges.

“The great rejuvenation of the Chinese nation can never be achieved easily with the beating of gongs and drums,” he said.

Reporting by Kevin Yao; Editing by Alex Richardson

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China's economy remains resilient despite external risks, says Xi – SaltWire Network

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BEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday.

The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say policymakers face a tough job to maintain stable expansion over the next several years to turn China into a high-income nation.

“The basic characteristics of China’s economy with sufficient potential, great resilience, strong vitality, large space for manoeuvre and many policy instruments have not changed,” Xinhua news agency quoted Xi as saying.

China has strong manufacturing capacity, very large domestic markets and huge investment potentials, Xi said.

Xi reaffirmed a “dual circulation” strategy that would help steer the economy towards greater self-reliance, as U.S. hostility and a global pandemic increase external risks.

China still enjoyed “strategic opportunities” in its development, although the coronavirus pandemic has exacerbated global challenges as globalisation slows and unilateralism and protectionism are rising, Xi was quoted as saying at a meeting on the country’s 14th five-year plan (2021-2025).

“We must seek our development in a more unstable and uncertain world,” he said.

Xi urged calmness amid rising difficulties and challenges.

“The great rejuvenation of the Chinese nation can never be achieved easily with the beating of gongs and drums,” he said.

(Reporting by Kevin Yao; Editing by Alex Richardson)

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Fonds de solidarité FTQ is Solid and Committed to Supporting the Economy and Jobs – Canada NewsWire

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“It’s up to us to build the future we believe in
and to invest in a better society.”
– Gaétan Morin

Highlights as at May 31, 2020:

  • $1.4 billion invested in Québec economy (40% more than projected);
  • Share value at $44.24 (down $1.96 from December 31, 2019, and up $0.34 over July 5, 2019);
  • Annual return of 0.8%;
  • Six-month return of -4.2%;
  • Comprehensive annual income of $230 million (profit);
  • Net assets of $13.8 billion;
  • $3 billion in redemption requests;
  • 707,935 shareholders-savers.

MONTRÉAL, Sept. 19, 2020 /CNW Telbec/ – At the Annual General Meeting of Fonds de solidarité FTQ shareholders, management reported on the year ended May 31, 2020. The AGM was held virtually for the first time due to the COVID-19 pandemic and public health directives aimed at limiting its spread.

“The Fonds’ last financial year was marked by two diametrically opposed periods. During the first nine months, the economy was in full swing and Québec continued to build on the momentum of recent years. This boom then came to a screeching halt when COVID-19 hit. But this is not the first time the Fonds has had to deal with a crisis. Throughout the year, before and after the start of the pandemic, the Fonds has shown that it plays a key role in the Québec economy,” said Fonds Chairman Claude Séguin at the start of the AGM.

“Overnight, the economy came to a stop, weakening many companies and their workers. We quickly adjusted to meet the needs of our savers and to support our partner companies,” said Gaétan Morin, President and Chief Executive Officer of the Fonds.

“These are tough times, to say the least. But Québec has many strengths to help it meet the challenges that lie ahead. It’s up to us to build the future we believe in and to invest in a better society. The Fonds will be there to help Québec realize its dreams of an ever more prosperous, greener society. With assets of nearly $13.8 billion as of May 31, the Fonds is solid and committed to supporting the economy and jobs,” added Mr. Morin.

Record investments

Taking into account the additional financing provided to companies in response to the pandemic, the Fonds invested a total of $1.4 billion in the Québec economy during the fiscal year ended May 31, 2020, or 40% more than originally planned.

The Fonds also acted quickly to ensure that its partner companies had the financial leeway they needed to get through the crisis and save jobs. More than 1,300 of them have taken advantage of the offer to defer their loan payment for six months.

Share issues and redemptions

During the year, the Fonds issued $961 million in Class A shares, a new record. The organization welcomed more than 46,000 new shareholders, of which 61% are under age 40 and 18% under age 25. Automatic saving through payroll deduction or automatic bank withdrawals accounted for 79% of inflows ($759 million).

During the same period, the Fonds received $3 billion in redemption requests. Thanks to its solid financial position and prudent liquidity management, the Fonds can meet the needs of its shareholders in difficult times. The decrease in assets under management in the second half of the year is explained primarily by the sharp increase in redemption requests.

“We would like to express our gratitude to all the people who have placed their trust in the Fonds over the years. Thanks to their support, we’ve been able to deliver on our mission, and we’re proud to give them back their savings along with the gains they’ve realized over the years,” said Gaétan Morin.

The 2020 Operations and Sustainability Report is available on the Fonds’ website here.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With net assets of $13.8 billion as at May 31, 2020, the Fonds has helped create and protect 221,267 jobs. The Fonds has 3,329 partner companies and 707,935 shareholders-savers.

SOURCE Fonds de solidarité FTQ

For further information: For media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Mobile: 514 703-5587, Email: [email protected]

Related Links

www.fondsftq.com

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