Winnipeg, MB – A proposed $20 million of investments are included in the Preliminary 2022 Balanced Budget Update as part of the COVID-19 Economic Response and Recovery Plan. This new funding would help Winnipeg begin a multi-year recovery from the global pandemic.
“After 20 months, the global pandemic has had an immeasurable impact on the lives and finances of residents, businesses, and governments,” said Deputy Mayor John Orlikow. “It has been an uncertain, challenging time; but for the most part, Winnipeg has weathered the storm. Building on previous efforts by the City, the Preliminary 2022 Balanced Budget Update includes important measures that will help Winnipeg emerge from the storm and begin a multi-year recovery.”
The economic recovery from the global pandemic will require efforts from municipal, provincial, and federal governments. While provincial and federal governments have the most resources to power an economic recovery, the City of Winnipeg has a role to play. The Preliminary 2022 Balanced Budget Update includes specific measures to help our city to begin the process of recovering from the global pandemic.
As part of the two-year COVID-19 Economic Response and Recovery Plan, there is a two-pronged approach that will focus on supporting the physical and mental health of Winnipeggers across the city and a specific strategy for helping the Downtown area recover.
The Preliminary 2022 Balanced Budget Update proposes a $10 million fund to support economic recovery and underserved areas in the city. The focus areas of the fund include:
- Improving regional parks infrastructure to accommodate social distancing measures
- Adding splash pads while either decommissioning or converting wading pools into accessible playgrounds to promote safe outdoor recreation in underserved areas of Winnipeg
- Enhancing active transportation infrastructure
An additional $10 million fund is proposed for projects that support economic development in the City and are focused on Downtown revitalization.
Both funds would be activated in 2022, with projects chosen by Council.
“In addition to the Economic Response and Recovery Plan, one of the most important ways the City can play a role in recovery is through a robust capital investment plan,” said Orlikow.
The Preliminary 2022 Balanced Budget Update proposes a six-year $2.9 billion capital investment plan that will have a significant impact on supporting growth in jobs, our population, and the economy. It is estimated that the proposed six-year $2.9 billion capital investment plan will boost GDP by $1.3 billion in Manitoba and $375 million across Canada, creating 10,800 person-years of employment in Manitoba while generating $341.7 million of tax revenue to provincial and federal governments.