OTTAWA, Ont. — Canada’s Minister of Transport announced $2.1 billion for the Trade and Transportation Corridors Initiative (TTCI) to build stronger, more efficient transportation corridors to international markets today.
Th news comes shortly after Canada’s 150th anniversary. The TTCI investments will support the creation of good jobs now, and by transporting goods more efficiently to market, Canadian businesses will be able to better compete, grow and create even more jobs well into the future, the minister confirmed.
The core element of the TTCI is the merit-based National Trade Corridors Fund (NTCF), which will provide $2 billion over 11 years to strengthen Canada’s trade infrastructure, including ports, waterways, airports, roads, bridges, border crossings, rail networks and the interconnectivity between them. With the launch of this fund, proponents are being invited to submit an expression of interest for funding to support projects that address urgent capacity constraints and keep goods moving efficiently along Canada’s trade corridors.
“Investments through the Trade and Transportation Corridors Initiative will make a big difference for Canadian businesses,” Garneau said. “It will allow them to get better access to international markets by addressing critical bottlenecks and ensuring that Canada’s transportation networks remain cost competitive and efficient. This also means more jobs that support middle-class families everywhere across the country.”
Up to $400 million of the NTCF will be dedicated to support the critical movement of people and goods in Canada’s Northern territories, given that region’s unique and urgent needs.
Minister Garneau also announced two additional initiatives under the TTCI:
$50 million over 5 years to work with key partners to stay on top of new disruptive transportation technologies in order to update rules and regulations for UAVs and connected and automated vehicles; and
$50 million over 11 years to launch a Trade and Transportation Information System, to be implemented by a new Canadian Centre on Transportation Data, to have access to high-quality, timely and accessible information on our transportation system.