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Prime Minister highlights public transit investment to create jobs, grow the economy, and build back stronger communities in Calgary – Prime Minister of Canada

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Improving public transit infrastructure helps create more inclusive communities, reduce commute times for Canadians, and fight climate change. That is why the Government of Canada is making smart investments in public transit that will create well-paying middle class jobs, and help us build back for a cleaner, better future.

The Prime Minister, Justin Trudeau, today confirmed the Government of Canada’s commitment to invest up to $1.53 billion to build the new Green Line as part of Calgary’s Light Rail Transit (LRT) system. The Government of Alberta is contributing $1.53 billion toward the new Green Line LRT project. The City of Calgary is contributing $1.59 billion. As the largest infrastructure project in the city’s history, the Green Line will play a key role in shaping the future of Calgary by connecting people and places, reducing congestion, and creating up to 20,000 jobs.

The project will deliver fast, accessible, and environmentally friendly transit access to downtown Calgary and other employment hubs such as Quarry Park and the southeast industrial areas. The new line will benefit daily commuters as well as those who rely on public transit the most, including women, immigrants, and young people. It will also ensure that communities in the southeastern part of the city have access to light rail, and that communities in the north-central part of the city will benefit from investments in rapid bus transit infrastructure for the future. Once fully built, 250,000 Calgarians will live within a 15-minute bus trip of the Green Line alignment.

Reliable, modern public transit is the foundation of strong communities where Canadians live, work, and play. It creates jobs, cuts pollution, and supports a strong middle class. That is why, since 2015, the Government of Canada has invested over $5.18 billion in more than 440 infrastructure projects across Alberta under the Investing in Canada Plan, and will continue to invest in the future of our communities from coast to coast to coast.

Quotes

“By investing in smart public transit projects, we’re reducing gridlock, helping more Calgarians get to and from work, creating good middle class jobs, growing the economy, and fighting climate change. As we set the course for an inclusive recovery from COVID‑19, we will keep focusing on laying the foundations for long-term, sustainable growth to create a Canada that is cleaner, more competitive, and more resilient for generations to come.”

The Rt. Hon. Justin Trudeau, Prime Minister of Canada

“Public transit is at the heart of cities where people want to live, work, and play. The federal government’s investment of up to $1.53 billion for the Calgary Green Line will play a key role in shaping the future of the city by helping residents get around faster, cleaner, and cheaper. Investments in public transit create good jobs and grow the economy, tackle climate change, and build more inclusive communities.”

The Hon. Catherine McKenna, Minister of Infrastructure and Communities

“Alberta’s $1.53 billion commitment toward the Green Line is a massive investment in the future of Calgary, one we are happy to make, because we believe our best days are ahead of us. I’m grateful for the hard work done by the technical experts at the province and the city to make the Green Line a functional project that connects to the rest of the LRT network. I am confident that the Green Line is in a stronger, more certain position today, and is in the capable hands of an experienced project team who can take this important project forward.”

The Hon. Ric McIver, Alberta’s Minister of Transportation

“Taxpayers are spending billions through the Investing in Canada Infrastructure Program to build important infrastructure in every corner of Alberta, including Calgary’s Green Line LRT. The Green Line will provide much-needed public transit options for Calgarians and create well-paying construction and engineering jobs in the near term. As a Calgarian, I look forward to seeing this project delivered on time and on budget.”

The Hon. Prasad Panda, Alberta’s Minister of Infrastructure

“Investments in transit are among the very best investments for a community. The Green Line is more than a train, it is a way for people to get to work and school and better participate in our community. Calgarians have been waiting for this for so long and it’s great to take this important step.”

Naheed Nenshi, Mayor of Calgary

Quick Facts

  • In May 2018, the Government of Canada announced a major investment of up to $1.53 billion for Calgary’s Green Line Light Rail Transit project – the largest contribution ever made by the Government of Canada to an infrastructure project in Alberta.
  • The new Green Line is expected to reduce greenhouse gas emissions by 30,000 tonnes per year, the equivalent of taking 6,100 cars off the road.
  • The City of Calgary and the Province of Alberta are continuing due diligence on the project. The federal funding is subject to the necessary federal due diligence on the revised business case recently submitted to the Government of Canada. The government will continue to work with the Province of Alberta and the City of Calgary to ensure this review is undertaken quickly.
  • Canada’s strengthened climate plan committed to provide public transit funding. The plan encourages cleaner modes of transportation, such as low and zero-emission vehicles, transit, and active transportation, to make communities healthier, less congested, and more vibrant.
  • Through the Investing in Canada Plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.
  • Through the Investing in Canada Plan, the Government of Canada is already investing $28.7 billion to support public transit projects, including $5 billion available for investment through the Canada Infrastructure Bank.
  • In February 2021, the Government of Canada also announced a plan for $14.9 billion in new public transit funding over eight years, including $2.5 billion over five years starting this year as well as a portion of the $3 billion in ongoing annual transit funding beginning in 2026-27, to expand transit systems in large urban centres by enabling major transit projects to advance. The plan will also accelerate job-creating projects across the country, support active transit, and electrify our transit systems.

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Local startups benefit from $35000 investment – The Kingston Whig-Standard

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Kingston Economic Development Corporation is investing $35,000 in 12 entrepreneurs in Kingston through their Starter Company Plus program.

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These micro grants will aid in the growing of the local startups in getting their feet off of the ground alongside business training and personal coaching for business owners.

According to Rob Tamblyn, Business Development Manager of Small & Medium Enterprises – the pandemic as resulted in many Kingstonians pursuing their own businesses.

“We are proud to be able to offer support and guidance to them through the Kingston Economic Development,” said Tamblyn.

The wide array of businesses that will benefit from this grant span from tattoo and spa services to contracting and driving schools, he said.

“Since the pandemic, we have certainly seen an uptick in the number of inquiries from people who are wanting to go into business for themselves.” Tamblyn said, explaining the need for funding.

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Kingston Economic Development Corporation was created with the mission of supporting the Kingston economy through providing mentorship and funds to a variety of business enterprises.

Little Friday is one of the twelve businesses in the spring cohort, Soren Gregersen and Ciara Roberts, co-founders of the new video production company, spoke to the Whig about the program.

Officially opening it’s doors in February of this year, Gregersen and Roberts heard of the Starter Company Plus Program from a business that participated last year.

“We’re going to spend the money on (Search Engine Optimization) to get some online presence and a bit of money on gear so that we can up our production value and capacity,” Gregersen said, referring to the vitality of a virtual presence in early stages.

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“We’re fortunate in Kingston to be able to offer two separate cohorts, one in the spring and one in the fall.” Tamblyn said. “So we’re able to inject $70,000 into startups or existing businesses seeking to expand.”

Each year, the corporation provides $35,000 in micro grants for each cohort to local businesses with funding from the Government of Ontario. Business owners are able to receive up to $5,000 based on the strength of their business pitches, decided on by a panel of community judges.

Accepted participants not only receive funding, but also attend a week-long virtual boot camp covering market research, digital marketing, small business financing, and hiring practice to ensure that each entrepreneur is set up with the resources and information for success.

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Roberts told the Whig that the boot camp and additional resources offered by the program has been invaluable. “It gave us a week to really sit down and put pen to paper on what we wanted little Friday to be about.”

“We focused on figuring out long term goals, marketing strategies, and marketing sales forecasts (in the boot camp)”

The pair has been receiving one on one coaching from business experts where time is allotted to get specific on obstacles that arise in the early days of business.

Interested start-up owners can apply to the Fall 2022 cohort from now until September 11 through the Invest Kingston website.

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Federal government touts London, Ont. region as possible site for investment by Boeing – CTV News London

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A pair of initiatives aimed at attracting high-skilled jobs to the region have captured the attention of the federal government.

On Tuesday, Minister of Innovation, Science, and Industry François-Philippe Champagne sat down for an interview with CTV News London to discuss the growing electric vehicle (EV) sector and other high-tech industries in southwestern Ontario.

“I don’t know if you’ve been following me!” joked a surprised Champagne when asked about rumours that aerospace company Boeing is considering a significant investment in London and the surrounding region.

He says talks are ongoing with Boeing about further investment in Canada — and confirms this region is in the running.

“London has the key ingredients that you [need] to attract this type of investment in the industry,” the minister explains.

Boeing is one of the largest aerospace design and manufacturing companies in the world.

Champagne suggested he is targeting investments that reduce the environmental impact of the aerospace industry, in particular, greener propulsion.

“What we’ve done in the automotive sector I dream of doing in the aerospace sector, which is greening the industry,” he adds.

Earlier in the day Champagne was joined by London North Centre MP Peter Fragiskatos on a tour of Toyota in Woodstock, Ont. focussed on EV investments and technology.

Fragiskatos says the federal government’s ongoing push for electric vehicle and component production in Ontario brings high paying jobs to the region.

“We’re talking about close to $40/hr plus benefits, particularly in this economy its jobs like that that are going to get people through,” says Fragiskatos.

In June, the City of St. Thomas announced the purchase of a 325 hectare (800 acre) parcel of serviced land in the community’s northeast corner aimed at attracting an EV battery plant.

Champagne was aware of the shovel-ready property and enthusiastic about the opportunity.

He believes the EV industry wants to reduce the carbon footprint of battery production, making Ontario’s mostly renewable energy hydro grid very attractive.

“I would applaud what is being done in St. Thomas, and certainly that is the type of creativity that we need,” he says. 

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Smart Money: The Top 10 investment mistakes – Alaska Highway News

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I have been doing this work for a long time. Nearly 30 years. And over that span I continue to see people make the same, preventable mistakes, over and over.

Here’s my Top 10 list of unforced investment errors.

1. Getting your financial advice from social media. If you have a question about money, what makes you think your equally uniformed friends have the correct answer? People with accounting questions will consult an accountant. People with medical concerns will seek out a doctor. But people with investing questions turn to Facebook or TikTok. It’s nutty.

2. Believing in fairy tales. Yes, I understand the allure of instant riches. Especially if someone is promising outsized returns with no risk. But huge returns with no risk is a fairy tale. Or a scam.

3. Being a perpetual GIC investor. Guaranteed Investment Certificates have their role in financial planning, but if you find yourself continuously rolling over your GICs at maturity because you don’t know what else to do then what you end up with is a permanent string of low-paying investments. On an after-tax, after inflation basis you are almost certainly losing money. How safe is that?

4. Buying on greed. If the reason that you want to buy an investment is because it is showing impressive past performance and you want to get in on the action, chances are very good that you are not making a rational investment decision. And if the investment has already gone up by that much already chances are that its too late.

5. Selling on fear. If the reason that you want to sell a quality investment is because it is showing disheartening past performance and you want to get out to avoid the pain of loss, chances are very good that you are not making a rational investment decision. And if the investment has already gone down by that much already chances are that it’s too late.

6. Confusing investment costs with losses. Buying the lowest cost investment is not the same thing as buying the best investment. If you can replace the diversification and investment decision making process at a lower cost, you might be on to something. But buying an investment only because it is cheap is a good way to end up with junk.

7. Overthinking. You really don’t need to wait until you master the nuances of a covered call strategy or do up a 200-column spreadsheet with correlation analysis before you take action. People can get overwhelmed by the choices and end up paralyzed into inactivity. Simple is usually better than complicated. Just get started.

8. Overconfidence. This one is a biggie. Way too many people think they know what they are doing with their investments, but that’s only because they don’t know what they don’t know. The tricky part is few readers will recognize themselves as being overconfident, just like everyone thinks that they are an above average driver. But if the roads are filled with great drivers, why are intersections with four way stop signs so difficult for people to figure out?

9. Burying your head in the sand. Sometimes financial decisions cause great angst, and the way that some people deal with money decisions is by not dealing with money decisions. Ignoring the situation might be a coping strategy, but it’s not going to get you anywhere. Unpleasant jobs are a fact of life. Pretending that they don’t exist doesn’t make them go away, and procrastination can allow small problems to fester into big ones.

10. Confusing wants and needs. You may want a shiny new toy right now. But you still need to eat when you get to retirement. A high consumption lifestyle is fun, but draining your retirement funds to finance it is short-sighted.

These preventable mistakes are well-known. Even so, I can assure you that people all over the world will continue to make all of them.

But you don’t have to be one of those people.


Brad Brain, CFP, R.F.P., CIM, TEP is a Certified Financial Planner in Fort St John, BC. This material is prepared for general circulation and may not reflect your individual financial circumstances. Brad can be reached at www.bradbrainfinancial.com.

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