Between now and 2019, the federal government will provide $460.5 million to fund transit infrastructure in BC. It will also fund up to half the costs of future transit projects.
These funds are for phase one expenditures from the Government of Canada’s Public Transit Infrastructure Fund. Phase two expenditures on new major transit infrastructure will be announced next year.
The funding will also help decrease traffic congestion for the:
- million new residents coming to the Metro Vancouver by 2041; and
- key goods transportation sector.
This, in turn, will boost the economy since residents will have better access to jobs closer to home and an alternative to driving.