With construction set to start on four large projects in the next 12 months, the city could consider taking out $115 million in loans to fund construction.

Three communities in Ontario’s north will share in the funding, with each using the money to hire or extend the positions of their respective economic development officers.

The organization has issued a request for information to identify an investment partner to manage the airport and enable future infrastructure investment.

For the first time in history, the value of construction across the country exceeded $10 billion. A gain of more than 14 percent in non-residential construction permits outweighed a loss of nearly 3 percent in the residential sector.

The budget allocates significant funds to infrastructure spending, including core investments in transit, highways, schools, hospitals and broadband.