The province will pay $90 million for a new education village in Milton, which will be an extension of both Wilfrid Laurier University in Waterloo and Conestoga College in Kitchener.

"Laurier and the Town of Milton have been working towards this goal for more than a decade," Laurier's president and vice-chancellor Deborah MacLatchy said in a release.

A new building will open in the fall of 2021 and the goal is to have 2,000 students attend each semester.

The campus will be known as the Milton Education Village. Laurier will start accepting students in September 2019 in a leased space.

The campus will go on lands donated by the town of Milton, which are valued at $50 million. The 160-hectare property is located beside the Mattamy National Cycling Centre in Milton's south end.

Campus aims to help job growth

In October 2016, Ontario's Ministry of Advanced Education and Skills Development announced it would accept proposals for a new university-led post-secondary site in Milton. Ontario universities were asked to submit expressions of interest. Laurier and Conestoga submitted their paperwork in March 2017.

MacLatchy said the Laurier programs in Milton will have the goal of meeting the need for science and tech graduates in the innovation corridor between Waterloo region and Toronto.

"The Milton Education Village is a game-changer for our community, and we couldn't have better partners," said Milton Mayor Gord Krantz.

Conestoga president John Tibbits said the college is looking forward to working with Laurier and Milton.