CentreVenture Development Corporation commends the Government of Canada, The Province of Manitoba, The City of Winnipeg, Paterson Global Foods and The Paterson Foundation for their funding commitments for the historic revitalization of the Union Bank Tower in Winnipeg’s Exchange District. The Union Bank Tower, will become the new home of RRC’s culinary and hospitality programs and a 100 student residence.  On May 20, 2009, The Government of Canada announced a Knowledge Infrastructure Program investment of $10 million in Red River College.  The Government of Canada’s commitment to repair and expand research and educational facilities at Canadian colleges and universities is part of a two-year, $2 billion plan.  To date, funds of $20 million have been raised for the Union Tower Project. Contributions in the amount of:

$10 million from the Federal Government

$5 million from the Province of Manitoba

$2 million from the City of Winnipeg and CentreVenture

Private donor funding of $3 million. Paterson GlobalFoods and the Paterson Foundation being the lead donor in the amount of $2 million.

Construction on the $27 million project will begin in Summer 2009 and will be named the Paterson GlobalFoods Institute. Red River College will continue with additional capital campaigns for the remaining funding.    For more information about the Knowledge Infrastructure Program, including program criteria and application instructions, please visit www.ic.gc.ca/knowledge-infrastructure. Information regarding the Red River College, please visit www.rrc.mb.ca.