Publicly funded colleges and universities in the province are getting a bump in provincial funding thanks to a new investment from the Ontario government.
Announced on Tuesday, July 9, 2024, by Ontario’s minister of Colleges and Universities Jill Dunlop, the Ontario government will be investing $201-million in 2023-24 to help ensure publicly assisted colleges and universities within the province have modern facilities, learning tools and equipment to better prepare students for the workforce.
“It is essential that our colleges and universities have the latest learning tools and equipment so students can get the skills they need for the in-demand jobs of today and tomorrow,” Dunlop said.
“As part of our government’s plan to build Ontario, this investment will help institutions renew and modernize their facilities and allow them to continually improve the learning experience for students.”
The funding comes through three different streams established at various points over the years. The first is the Facilities and Renewal Program, which was established in 1986 to provide colleges and universities annual funding to renew and modernize their campuses by repairing and renovating existing facilities. These upgrades can include major building systems upgrades, roof repairs, heating and ventilating system upgrades, and mechanical and electrical system upgrades. The Facilities and Renewal Program will be providing $171-million to the overall investment.
The second stream of funding comes through the province’s College Equipment Renewal Fund, established in 2002, which aims to help colleges buy and renew instructional equipment for use in the classroom, such as specialized equipment, tools or machinery for labs and shops. That stream of funding comes to $20-million through the investment.
Finally, the province’s investment will include $10-million through the Training Equipment and Renewal Fund, established in 2021, to help universities within Ontario renew and buy modern, state-of-the-art equipment and learning resources.
“Colleges Ontario welcomes new investments from the provincial government to Ontario’s public college sector, including the Facilities Renewal Program and College Equipment and Renewal Fund,” said Marketa Evans, president and CEO of Colleges Ontario.
“These investments are necessary and help ensure our public college students continue to have the space and training tools to become the health care workers and skilled trades personnel that Ontario needs.”
On February 26, 2024, the government announced an additional investment of $167.4 million over three years, starting in 2024-25, for capital repairs and equipment at publicly assisted postsecondary institutions.
“This investment will help ensure Ontario’s universities are able to give students the modern learning environments they need to succeed,” the Council of Ontario Universities said in the government’s press release.
“As the average age of our buildings is 44 years, the repair and renewal of infrastructure is critical. This funding supports universities in continuing to make improvements to key areas such as accessibility and technology-enabled learning.”
