Oakville Economic Development secures $95,000 in funding for life sciences park

Wednesday, March 17, 2010 – for immediate release

Oakville Economic Development secures $95,000 in funding for life sciences park

Oakville Economic Development can start exploring the development of a life sciences research and technology park, adjacent to the proposed new hospital in north Oakville, thanks to $50,000 in funding from the Invest Canada – Community Initiatives (ICCI) program and an additional $45,000 contribution to the project from the Ontario Realty Corporation.

“Funding from all levels of government is vital to creating a stable and thriving economic base in our community,” Mayor Rob Burton said. “This funding will further Council’s vision of building a healthy business environment that is strong, diversified and prosperous.”

Oakville Economic Development will lead the development of a plan for the park that includes a conceptual plan, strategic investment analysis, marketing plan, servicing and technical analysis, and 3D modelling of the proposed park.

“This initiative builds on the town’s Economic Development strategy which identifies the life sciences sector as an important industry sector for growth in Oakville,” said Dorothy St. George, director of Economic Development for the Town of Oakville.

Under the ICCI program, communities can receive up to 50 per cent of the project cost in matching funds to assist in the development and execution of local investment attraction strategies. Applications are evaluated according to their strategy, project components, performance measures, capacity, work plan and the level of public-private sector partnership.

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For more information contact:

Dorothy St. George
Director, Economic Development
Town of Oakville
905-338-4240
dstgeorge@oakville.ca  

Mary Jo Milhomens
Senior Communications Advisor
Town of Oakville
905-338-4244
mmilhomens@oakville.ca


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Oakville Economic Development secures $95,000 in funding for life sciences park