St. F.X. has received a financial boost from the Province of Nova Scotia.
Friday morning (Dec. 14), provincial officials announced they will provide the Antigonish-based university with an additional $3.95 million in annual operating funding.
“This announcement is tremendous news for St. F.X.,” St. F.X. Board of Governors Chair Mike Boyd said in a university press release.
He thanked provincial officials for “their vision, leadership and commitment to post-secondary education within the province.”
Boyd also praised President Kent MacDonald and St. F.X. for “working tirelessly on this file” for more than two years.
The monies will be added directly to the university’s base operating grant, taking effect during 2018-2019 fiscal year.
MacDonald, noting he has spoken with Town of Antigonish Mayor Laurie Boucher and Municipality of the County of Antigonish Warden Owen McCarron about the increase, said “we are so very pleased with this decision of the government.”
“It signals to us that this provincial government understands and appreciates that by investing in St. F.X., the government is investing in an economic, social and cultural driver for the town and county of Antigonish, the northeastern region of Nova Scotia and the province,” he added.
Officials referenced a 2017 report that outlined the university’s economic impact ($486 million) on the province in 2016-17, which concluded, for every dollar invested in St. F.X., $15 in return is generated in Nova Scotia.
St. F.X. Students’ Union President Rebecca Mesay said her organization is “excited” about the announcement.
“I’m very pleased to see funding that will go to areas that directly support students,” she added.
Along with St. F.X., University of King’s College in Halifax will receive an increase ($2.2-million).