Fourth Quarter Investments: 2007/2008

The Fourth Quarter Investments included in the 2008 Budget reflect the priorities of the government’s five-point economic plan to invest in skills and knowledge, enhance Ontario’s competitiveness, strengthen the environment for innovation, invest in infrastructure and form key partnerships to strengthen Ontario’s industries.

Ministry of Research and Innovation Fourth Quarter Investments:

• $10 Million for the University of Waterloo to build a new campus in Stratford for teaching and research in global business and digital media.
• $9 million for The Ontario College of Art and Design’s (OCAD) Digital Futures Initiative for interactive design for digital and tangible media.
• $7.5 million for the to the University of Western Ontario to support interdisciplinary research into chemicals and fuels made from agricultural resources.
• $5 million to the MaRS Discovery District to expand commercialization programs to develop emerging ventures.
• $3.5 million in 2007/08 to the Youth Science Foundation (YSF) Canada and $1.5 million in 2007/08 for Let's Talk Science to support Ontario's participation in regional, national and international science fair competitions and to support your science outreach.

Before proceeding with any investment, the government assesses proposals as part of planning processes, such as Results-based Planning and preparation of the Budget.

In the case of Fourth Quarter Investments, the government has implemented a process to ensure due diligence has been completed by the Ontario public service.

Recipients of Fourth Quarter Investments must comply with accountability provisions that are consistent with transfer payment directives. This includes report-backs on how funds are used, the opportunity for independent audit and verification and the right to recover funds.

These Fourth Quarter Investments are part of the government’s fiscal plan to ensure the achievement of balanced budgets while making investments that help build the economy of the future.