KITCHENER-WATERLOO — NDP Official Opposition critic for Jobs, Employment, Research and Innovation Catherine Fife (Waterloo) and area NDP MPP Laura Mae Lindo (Kitchener Centre) released the following joint statement, calling on the Conservatives to undo their cut to area tech innovator Communitech.
Fife and Lindo were responding to the Ford government’s announcement last week of a $2-million funding cut to Communitech, shrinking the provincial funding it receives by over 30 per cent and eliminating 15 area jobs:
“Ripping millions of dollars in funding away from our area tech innovator is backwards, and Ontarians will pay the price. Communitech is a leading hub and incubator for tech entrepreneurs and was one of the first of its kind in Ontario. Its programs help aspiring start-ups connect with the capital and talent they need to succeed, and help established businesses scale-up to become global brands. Communitech has applied its successful model to the financial and insurance sectors and long acted as a bridge for students to gain experience and a vital foothold in these industries.
Communitech has proven time and again that there is a demonstrated return on investment. Every dollar invested into innovation hubs like Communitech has the potential to yield so much more in investment, growth and opportunity for Ontario families.
Cutting $2 million from Communitech and forcing the loss of 15 good tech jobs is just the latest short-sighted cut from Doug Ford. Ford’s first budget cut $700 million from colleges and universities and $185 million from the Ministry of Economic Development, Job Creation and Trade.
When our tech sector thrives, Ontario thrives. Families deserve a government working with this industry, instead of against it.”