The 2014 New Building Canada Fund:
Focusing on economic growth, job creation and productivity
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What is it?
The 2014 New Building Canada Fund (NBCF) is one component within the overall $53-billion 2014 New Building Canada Plan (NBCP). It is a $14-billion Fund to support projects of national, regional and local significance that promote economic growth, job creation and productivity.
Why is it important?
Through the NBCF, the Government of Canada is encouraging investments in infrastructure projects that contribute to economic growth, job creation and productivity. The federal government works with provinces, territories, municipalities and the private sector to provide funds to economically-focused projects.
How does it work?
There are two major components under the 2014 New Building Canada Fund:
- The $4-billion National Infrastructure Component (NIC) which provides funding for projects of national significance, with a focus on projects that have broad public benefits, and that contribute to long-term economic growth and prosperity.
- The $10-billion Provincial-Territorial Infrastructure Component (PTIC) which supports infrastructure projects of national, regional and local significance that contribute to economic growth, a clean environment, and stronger communities. The PTIC is divided into two sub-components:
- $9 billion for National and Regional projects (PTIC–NRP); and
- $1 billion for projects located in communities of fewer than 100,000 residents through the Small Communities Fund (PTIC–SCF).
Under the PTIC, each province and territory will receive a base amount of $250 million plus a per capita allocation over the 10 years of the program. The per capita amount is based on the Statistics Canada Final 2011 Census figures. Provinces and territories are required to prioritize projects for all outstanding NBCF-PTIC funding allocations by April 1, 2018.
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