UBC is to receive another $51.5 million dollars from the federal and provincial governments, bringing the total investment in the university to almost $100 million.

The announcement of the joint-funding plan was announced by Minister of Innovation, Science and Economic Development Navdeep Bains and British Columbia Minister of Advanced Education Andrew Wilkinson today at the school.

It is part of the government’s “Innovation Agenda.” They intend for this money to create jobs, drive growth across industries and improve lives of Canadians. Specifically, the UBC funding is intended to help create a future well-paying middle class.

It will be used, along with UBC’s own money, to replace the Undergraduate Life Sciences Teaching Labs at the Biological Sciences Complex, build the new Chan Gunn Pavilion, and expand a part of the Vancouver General Hospital.

Of the $51.5, $39.7 is federal money and $11.8 provincial.