Ontario has announced it is investing $150 million in “reliable broadband and cellular service.”
According to the province, this funding will help create even more economic and educational opportunities in rural, remote, and underserved areas of the province.
“As we carefully restart the economic engine of Canada, every region and every community will play a role in bringing jobs and prosperity back to our province,” said Premier Doug Ford.
“By investing in reliable broadband and cellular service, we are helping to create greater opportunity for our families, farmers, and small business owners in rural and remote areas of this great province.”
The new Improving Connectivity in Ontario, or ICON, program, when leveraged, has the potential to result in an investment of up to $500 million in total partner funding to improve connectivity in underserved and unserved areas, according to the province.
“By doing their part and staying home to help stop the spread of COVID-19, the people of Ontario have demonstrated the need to be connected to learn, work, and run their businesses,” said Infrastructure Minister Laurie Scott. “It appears that functioning remotely will continue to be a regular way of life for many in this new environment, and fast reliable Internet will be critical. The ICON program is an important step towards bridging the digital divide in Ontario.”
The province said as many as 12% of households in Ontario are underserved or unserved, mostly in rural, remote or Northern areas.
And with Ontario’s education now online, it is an important component of the province’s plan.
The provincial government recently called on the federal government to take immediate action to improve Internet connectivity for Ontario students.
“Access to high-speed Internet is foundational to our young people’s success in learning, working, and innovating, today and into the future,” said Minister Stephen Lecce.
“Our government is taking action by connecting all schools to broadband, starting with high schools this September 2020 and elementary schools by September 2021. It is also why we are calling on the federal government to step up their investment to connect the next generation of thinkers and workers to the modern and digital economy.”
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On Tuesday, Ontario extended the province’s state of emergency for another 28 days, until June 30.
Ford said that this doesn’t mean the reopening of the economy is on hold, and that the province will continue to look into a regional approach.
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.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
