The Government of Canada announces further funding to support Kingston's economic renewal Peter Milliken, MP for Kingston and the Islands, announced at a press conference May 19, 1998, the continuation of funding, in the amount of $150,000 in support of economic renewal in the Kingston area. "This investment by the Government of Canada is the second step in its support of Kingston's economic transition," Milliken said. "I believe that it will help Kingston remain one of the best places in Canada to live by fostering growth in a variety of economic sectors, and as a result, fostering the prosperity of the greater Kingston area." The funds, provided by Human Resources Development Canada (HRDC), will allow Advantage Kingston, a task force comprised of business, labour and community leaders, to continue its work promoting Kingston's transition from the old to the new economy. Advantage Kingston was formed in 1996 in response to significant public sector downsizing which is expected to eventually remove more than $100 million annually from the local economy and eliminate more than 4,000 jobs. In its first year of operation, Advantage Kingston, through a series of focus groups involving participants from all sectors of the community, determined that Kingston's economic future lays in knowledge-based industries, namely in the following areas:
A major study undertaken by Coopers & Lybrand Consulting, co-sponsored by Advantage Kingston and the Kingston Economic Development Corporation, concluded that Kingston has a bright future in knowledge-based industries, and confirmed that it is currently an "early stage cluster" with enormous job creation potential. Continued funding from HRDC will allow AK to do the following: implement specific sectorial initiatives; assist the Kingston Economic Development Corporation with the start-up of a Kingston-based Venture Capital Fund and Equity Matchmaking initiative; help ensure the success of the pilot programs offered by the Advanced Technology Education Consortium (@TEC); identify business opportunities for local firms resulting from government downsizing; promote the regional psychiatry strategy developed by Advantage Kingston in 1997; and, form a Substance Abuse Task Force. In addition, Advantage Kingston will champion the development of a community human resource plan to identify work skills and future opportunities. Press conference The formal announcement of HRDC funding was made at a press conference held by Mr. Milliken Tuesday, May 19, at 2:00 p.m. in the board room of the Kingston Economic Development Corporation offices, 181 Wellington Street, Kingston. Need more information? Please contact: Dale Barbour, Human Resources Centre of Canada, (613) 545-8562 John Armitage, Advantage Kingston, 613) 544-2726, Ext. 27 |