LONDON, Ontario, September 10, 2009 "Minister of Human Resources and Skills Development, the Honourable Diane Finley, MPP Khalil Ramal, and university president Amit Chakma today celebrated the groundbreaking ceremony of the new building for the Richard Ivey School of Business at The University of Western Ontario. The project received federal and provincial funding totalling $50 million through the Knowledge Infrastructure Program and Ontario's 2009 Budget. Other investments include a $15-million commitment from the Ivey family to the school, of which $5 million will support the building.
The new state-of-the-art three-storey building will allow the Richard Ivey School of Business to expand its undergraduate and graduate programs to continue as a world leader in business education. The school's highly-regarded undergraduate program has grown 40 per cent over the past three years and is expected to double in size by 2013. The PhD program has tripled in size over the last decade. The new building will facilitate collaboration in research and teaching for which Ivey is known. It will also house Ivey's Centre for Building Sustainable Value, Centre for Driving Growth through Entrepreneurship & Innovation and Centre for Engaging Emerging Markets; and provide a home for the Ivey Centre for Health Innovation and Leadership.
In total, the governments of Canada and Ontario are investing $1.5 billion in 49 projects at Ontario's colleges and universities, through the Knowledge Infrastructure Program (KIP) and the Ontario 2009 Budget.
"The Government of Canada is investing in innovation and infrastructure to promote employment, help our economy recover quickly and improve the quality of life of Canadians,"? said Minister Finley. "This investment is creating jobs for people now, while providing the infrastructure that the Richard Ivey School of Business needs for years to come."
The Knowledge Infrastructure Program, a two-year, $2 billion economic stimulus measure to support infrastructure enhancement at Canadian post-secondary institutions is part of the $12 billion in new infrastructure investment allocated under Canada's Economic Action Plan.
The program is providing real economic stimulus and employment by creating local jobs for engineers, architects, trades people and technicians. It is also helping to generate the advanced technological infrastructure needed to keep Canada's research and educational facilities at the forefront of scientific advancement.
"The Richard Ivey School of Business develops business leaders who will help build and sustain Ontario"s economic prosperity in the years ahead," said Khalil Ramal, MPP for London-Fanshawe. "This investment not only creates very important direct jobs, it also supports research and education that will help create future opportunities for all Ontarians."
The Government of Ontario, in its 2009 budget " Confronting the Challenge: Building Ontario's Economic Future, is committed to investing in infrastructure and has designated $780 million to colleges and universities to modernize facilities and boost long-term research and skills training capacity over the next two years.
"The government investment in this important project will position the Richard Ivey School of Business and The University of Western Ontario for a strong future," said Amit Chakma, President of The University of Western Ontario. "The building will have significant local and global impact" local impact begins with the hundreds of jobs created in the construction of this great new facility, and the impact becomes global as the students who reap the benefits of the building become business leaders at home and around the world."
For more information about the Knowledge Infrastructure Program, including program criteria, application instructions and a list of the approved projects to date, please visit www.ic.gc.ca/knowledge-infrastructure.
For information about how the Government of Ontario is helping to build and revitalize infrastructure across the province, please visit www.mei.gov.on.ca/english/infrastructure.
For further information (media only), please contact:
Media Relations
Industry Canada 613-943-2502
Provincial Contact:
Ontario Ministry of Training, Colleges and Universities:
Tanya Blazina Media/Issues Coordinator
416-325-2746
tanya.blazina@ontario.ca
Institution Contact:
Mary Weil Manager, Media & Public Relations Richard Ivey School of Business
The University of Western Ontario
416-203-0664 mweil@ivey.ca
