Ministry of Economic Development, Employment and Infrastructure announces that the fiber optic project to connect Bracebridge and Huntsville under the Small Communities Fund has been approved. The residents of Bracebridge and Huntsville will benefit from the installation of fiber optic cable. The funds required for the project is provided by the Governments of Canada and Ontario through the Small Communities Fund.
This project will include the installation of fiber optic cable in Bracebridge and Huntsville, improving web access for residents, businesses and visitors. This initiative will help to bring high speed services and the benefits offered by the broadband services to the region, such as email access, web browsing, e-commerce, and be a great resource for school work. It is also expected to support the region’s long-term growth while improving quality of life for residents and visitors alike.
The $1 billion CAD Small Communities Fund provides funding for priority public infrastructure projects that deliver on local needs. Canada and Ontario will each provide $272 million to support projects in communities across the province with fewer than 100,000 residents. This funding will help address local priorities, supporting job creation and economic growth, thus sustaining a high quality of life in small communities across Ontario for years to come.
The Government of Canada will provide up to $2.8 million through the Small Communities Fund for this project. The Province of Ontario will contribute up to $2.8 million to this project. Lakeland Energy Ltd. will be responsible for all remaining costs of the project.
The Communities Component of the Building Canada Fund targets projects in communities with populations of less than 100,000. The Fund recognizes the unique infrastructure needs of Canada’s smaller communities and focuses on projects that meet environmental, economic and quality of life objectives. Originally a $1 billion fund, Canada’s Economic Action Plan expanded the Communities Component fund with a top-up of $500 million. The program has funded more than 1,400 smaller-scale projects that improve water, waste water, public transit, local roads and other types of community infrastructure.
The authorities expressed happiness in investing in projects like the installation of fiber optic cables in Bracebridge and Huntsville that will benefit their community by improving much needed local infrastructure. Through the New Building Canada Plan Small Communities Fund authorities are investing in priority infrastructure projects that have a strong impact on the quality of life of Ontario’s residents while helping job creation and economic growth.
Investment in fiber optic cable will ensure high speed internet access for residents, visitors and businesses in communities in Muskoka, helping to promote long-term economic growth for the region. It’s part of the largest infrastructure investment in Ontario’s history – more than $130 billion over 10 years. Deployment of fiber optic cables will invite more businesses to the region, will create new jobs in technical and administration domains. Investment in fiber optic networks are proven to have direct and indirect impact on country’s GDP.