Markham York University/Seneca College: Markham Centre Campus | 56.08m | 13s | York University | Diamond Schmitt

Filip said:
Does it matter though?

The deficit needs to be taken care of before we embark on more nice to have spending. The post secondary world is a money pit - no reason to expand campuses in other municipalities just so they can say we have a university.
Click to expand...

Lets separate out the arguments on the need to slay the deficit vs this particular spending decision.

The latter is open to some nitpicking as seen below, but the deficit is not suitable rationale.

If the province raised the HST by 2 points, only back to where the total tax was before the Harper cuts (15%) and the exact same move Quebec made as did every maritime province..........the deficit would be all but wiped out by the new revenue.

That's the much more efficient route to slaying the debt.

Once were back at balance, it's fair to weight different spending priorities both within a given area (in this case education) and also other potential areas of investment such a social services, transit or health.

This decision did not follow that logic.
 
salsa said:
I honestly wouldn't mind if some of these frivolous satellite campuses never see the light of day. If I'm missing something then someone please let me know, because to me these satellite campuses seem to be more about giving suburban mayors something to feel good about than actual necessity. For one, York University's main campus is centrally located and has lots of undeveloped land near their newly built subway stations that should easily support all their future expansion needs for the next couple decades. I don't see much need to open up new buildings in Markham anytime soon.

At least with Ryerson there was a stronger case to be made since their downtown campus is almost fully built out, and the Brampton site was arguably the best planned campus of the three. Meanwhile the proposed Wilfrid L campus in Milton was in a greenfield location far from any transit, so I don't feel sorry for Milton at all.

Finally, I'll conclude with some cautionary points from this article:

https://tvo.org/article/current-aff...-satellite-campuses-to-spur-economic-recovery
Click to expand...

I think your on point. The Laurier expansion was the least sensible. Not merely because it's greenfield and not particularly central; but because Laurier's brand isn't huge, and it's already got a second campus in Brantford, where more resources could be focused.

The Ryerson one was probably the most thoughtful; although I have some reservations about how its long-term build out would work.

Markham could have waited.

That said, there are alternative post-secondary investments that could eat up those dollars and a good deal more.

I happen to favor adding a medical school at York; and a full-line undergraduate university in Barrie, located in or adjacent to their downtown (as opposed to the failed 1/2 hearted attempts there)

While I think critiquing the previous government's policy/funding choices is fair game, I think likewise these decisions don't seem well thought out or replaced by anything better.
 
Northern Light said:
If the province raised the HST by 2 points, only back to where the total tax was before the Harper cuts (15%) and the exact same move Quebec made as did every maritime province..........the deficit would be all but wiped out by the new revenue.
Click to expand...

without bringing in the concept that increased consumption taxes might slow economic activity and raise less money than projected.....in the last fiscal year (Fiscal Year ending March 31, 2018), Ontario had total sales tax revenue $25.9B.......raising it by 2% would add $15B to that?
 
TOareaFan said:
without bringing in the concept that increased consumption taxes might slow economic activity and raise less money than projected.....in the last fiscal year (Fiscal Year ending March 31, 2018), Ontario had total sales tax revenue $25.9B.......raising it by 2% would add $15B to that?
Click to expand...

So, sales tax revenue for the 2 points, on a straight-line basis would be 6.7B.

Note that sales tax revenue for 2018 is tracking @ 26.8B for the year, a 900m year over year increase without any rate change.

For a variety of reasons such as inflation and wage growth, in general government revenue increases tend to track slightly above Real GDP growth each year.

Real GDP is tracking in the range of 2%, which means if we don't go into recession, we would expect, conservatively, annual revenue growth of 3B with no changes to rates or brackets.

Ergo, revenue growth over the next 2 years will be at least 6.5B, assuming no recession; add in 6.7B in new HST revenue and you get 13.2B; which would leave the deficit at 1.8B.

However, the province zero-ed its budget for revenue from Marijuana. There is no way they will not net 450M per year.

This leaves the deficit at no greater than 1.35B tops 2 years out and puts us in surplus in 2021-2022.

I also have not factored in any of the cuts already announced
 
Northern Light said:
So, sales tax revenue for the 2 points, on a straight-line basis would be 6.7B.

Note that sales tax revenue for 2018 is tracking @ 26.8B for the year, a 900m year over year increase without any rate change.

For a variety of reasons such as inflation and wage growth, in general government revenue increases tend to track slightly above Real GDP growth each year.

Real GDP is tracking in the range of 2%, which means if we don't go into recession, we would expect, conservatively, annual revenue growth of 3B with no changes to rates or brackets.

Ergo, revenue growth over the next 2 years will be at least 6.5B, assuming no recession; add in 6.7B in new HST revenue and you get 13.2B; which would leave the deficit at 1.8B.

However, the province zero-ed its budget for revenue from Marijuana. There is no way they will not net 450M per year.

This leaves the deficit at no greater than 1.35B tops 2 years out and puts us in surplus in 2021-2022.

I also have not factored in any of the cuts already announced
Click to expand...
Ok.....I doubt those numbers come true but your logic is clearer than your first statement on it.
 
narduch said:
Heard this project isn't dead.

Will get built without the Provincial funding.
Click to expand...

Of course, these projects weren't explicitly forbidden from being completed, it's just that the Ford government has placed a huge, inconveniently timed hurdle in the way.

Whether or not these projects are 'cancelled' or not depends on whether or not the universities commit to finding alternate sources of funding, or if they revise their plans to fit into this new reality.
 
Well, that has pros and cons.

As far as government spending our tax dollars goes, I think spending it on education has some of the greatest returns. While we the public "save" money here, the money York University is spending instead of the provincial contribution is surely coming out of other investments and initiatives. At the end of the day, did we the public really win?
 
WislaHD said:
Well, that has pros and cons.

As far as government spending our tax dollars goes, I think spending it on education has some of the greatest returns. While we the public "save" money here, the money York University is spending instead of the provincial contribution is surely coming out of other investments and initiatives. At the end of the day, did we the public really win?
Click to expand...
Hate on Doug Ford all you want, but no matter which way you cut it, the public indeed wins.
 
I think this is a big win and a good investment by the region! Hopefully when it comes time to expand, the province will be back at the table.
 
canarob said:
I think this is a big win and a good investment by the region! Hopefully when it comes time to expand, the province will be back at the table.
Click to expand...
If you read the report, it says that the region was going to provide $25mil regardless. It had a MOU signed with the university a few years ago, contingent on the university obtaining the rest of the funds and starts construction by the end of 2018. That deadline has since been extended twice, once to end of 2019, and now to end of 2020.
 
News Release
Ontario Announces Support for York University's New Markham Centre Campus
July 24, 2020
Campus in Line with Government’s New Major Capacity Expansion Policy Framework
MARKHAM — The Ontario government announced support for York University's new Markham Centre Campus, the first publicly assisted university in York Region. This new campus expansion is the first project proceeding under the government's updated Major Capacity Expansion Policy Framework. The Policy Framework encourages the responsible development of new postsecondary campuses, ensuring minimal cost to the taxpayer, a high-quality education that aligns with labour market needs, and expansion plans that align with community planning and industry partnerships.
Details were provided today by Premier Doug Ford and Ross Romano, Minister of Colleges and Universities, Rhonda L. Lenton, President and Vice-Chancellor of York University, Wayne Emmerson, Chairman and Chief Executive Officer for the Regional Municipality of York, Frank Scarpitti, Mayor of Markham, and Billy Pang, MPP for Markham—Unionville.
"The time has come for a new, innovative approach to financing college and university expansions. Instead of the province writing multi-million-dollar cheques, we have developed a system that encourages the development of new campuses with a much smaller cost to the taxpayer," said Premier Ford. "The new Markham Centre Campus is a model of responsible expansion which will offer local students access to a world-class education and prepare them for the jobs of the future."
The construction of the Markham campus will begin this month and will aid in York Region's post-COVID-19 economic recovery, as it is expected to generate over $350 million in immediate economic benefits and to create over 2,000 jobs.
"Our province's postsecondary institutions play a fundamental role in Ontario's economy and will be key players in Ontario's economic recovery," said Minister Romano. "By supporting self-funded campus expansions like the one by York University, we are encouraging independence and accountability, expanding choice and opportunities for our students, and protecting taxpayers."
York University's new Markham Centre Campus is expected to open in Fall 2023 and will provide students in York Region greater access to university programs in the high-demand fields of technology, commerce, data science and entrepreneurship at the undergraduate and graduate levels.
The economic impact of COVID-19 has increased the need for postsecondary institutions to modernize and focus on job-market relevance by preparing students to succeed in the global job market. The new Markham Centre Campus addresses the need for skilled graduates, by combining academic programs with on-the-job learning opportunities, to prepare students for the workforce when they graduate.
QUICK FACTS
  • York University will begin construction on the new Markham Centre Campus in July 2020 and will welcome its first student cohort in Fall 2023.
  • The government will provide funding support for the operations of the campus when it opens its doors in 2023, linked to student enrolment.
  • The campus will include over 400,000 square feet of space and will be able to accommodate 4,200 students.
  • The campus will be located on a five-acre site just north of Highway 407 and west of Kennedy Road, near the Pan Am Centre. It will be within a 10-minute walk of the Unionville GO Station and the Highway 7 VivaNext transit corridor.
  • Once open, the campus is expected to contribute $54 million annually to the province’s gross domestic product (GDP). The presence of a new campus in the region will be a draw for businesses, residents and employment that will continue to contribute to future economic growth.
  • Ontario is working towards the goal of graduating over 70,000 students a year from Science, Technology, Engineering and Mathematics (STEM) programs by 2025.
 
You must log in or register to post here.

Back
Top