Deadline Extended for Economic Action Plan
Vancouver, December 2, 2010 – Chambers of Commerce from across the province today welcomed the announcement that the deadline for completing infrastructure stimulus projects under Canada’s Economic Action Plan (EAP) has been extended until October 31, 2011.
“This announcement is really about keeping jobs and building some momentum in the economy,” said John Winter, President and CEO of the BC Chamber of Commerce. “Many of these infrastructure projects would have been subject to cancellation if the government had not stepped in to extend the funding.”
Extending the deadline by one full construction season will give the remaining projects which have faced delays the opportunity to be completed. To date, approximately 2,300 projects have been the focus of the EAP, with $62 billion dollars put into the economy. This extension applies to the Infrastructure Stimulus Fund, the Building Canada Fund Communities Component Top-Up, the Recreational Infrastructure Canada Program and the Knowledge Infrastructure Program. To qualify for this temporary funding, a project must have brought on eligible costs before March 31, 2011.
“Parts of our economy here in BC have seen slow growth over the past two years, and the same is true for the entire country,” continued Winter. “This move will give many sectors an opportunity to generate growth which they may otherwise have lost.”
For more information on this issue please contact;
President & CEO
BC Chamber of Commerce