New Regional Homebuilding Innovation Initiative helps transform the way houses are built in Canada.
Atlantic Canada continues to grow. Families are expanding and new neighbours are arriving to pursue opportunities in growing communities with good jobs and a bright future. This population growth has helped fuel opportunity and prosperity across the region, and it has created a strong, diverse, and innovative economy. But the construction of residential housing has not kept pace with economic growth. Through Canada's Housing Plan, the Government of Canada aims to unlock millions of new homes by building more houses, making it easier to own or rent a home, and helping Canadians who cannot afford a home.
Building tomorrow's housing innovations, today
Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency launched a new initiative that will help change the way homes are built to better meet the demands of our growing country. As Atlantic Canadians look for solutions to alleviate local housing pressures, the Regional Homebuilding Innovation Initiative will help transform the future of how homes are built. By accelerating innovation and enhancing efficiency, Canadian builders will be able to build more homes faster.
Through the Regional Homebuilding Innovation Initiative, the Government of Canada will invest $50 million over two years, beginning this year, to provide support to the residential home construction sector and its supply chain. Delivered through Canada's Regional Development Agencies, these investments will advance innovative homebuilding solutions and boost manufacturing efficiency and output to improve capacity within the homebuilding sector in Atlantic Canada and across Canada.
Minister Hutchings announced that the Atlantic Canada Opportunities Agency (ACOA) is now accepting applications from businesses and organizations across the region. Eligible applicants are encouraged to visit ACOA's web site or contact their local office to seek additional information.
This initiative, an important part of Canada's Housing Plan, is helping to build tomorrow's housing solutions today. The Government of Canada is committed to helping businesses innovate and increase productivity in the housing construction sector and its supply chain, while also creating opportunities to build a region and a country we can be proud of, where everyone has a place to call home.
