Teamsters Canada Rail Conference

In a bid to get the ailing economy back on the rails, Ottawa and Queen's Park are boosting investment in GO Transit.

Prime Minister Stephen Harper and Premier Dalton McGuinty today announced that up to $500 million will be spent to improve a dozen GO station parking lots and upgrading rail lines to increase service reliabiliity.

The funding will be divided equally between the provincial and federal governments.

Harper and McGuinty made a theatrical arrival at the GO yards in Mimico aboard a locomotive to disclose the news.

"This investment will create jobs for local construction workers in communities throughout Southern Ontario," said Harper.

McGuinty said such investments "give us a more competitive economy in the longer term."

"When transit is more convenient, more people leave their car at home. That means a better quality of life for our families and a cleaner, stronger and more beautiful province," the premier said.

Today's funding is a part of the previously announced $3.09 billion Ontario will receive from Ottawa's Building Canada program.