Waterloo Region will receive more than $22.8 million in new transit funding from the federal and provincial governments, part of a joint announcement by Prime Minister Justin Trudeau and Ontario Premier Kathleen Wynne on Tuesday.

The federal government is giving the province $1.4 billion for the new Public Transit Infrastructure Fund, and will cover up to 50 per cent of funding needed for projects. In total, the two levels of government will provide more than $2.97 billion in funding for transit.

The money in Waterloo region will go largely to replace vehicles, but will also be used for station and terminal developments.

Money for vehicles, stations

The following projects received money from the federal and provincial government:

$12 million for vehicle replacements.

$3,535,000 for iXpress station development.

$2 million for Blockline station development.

$2 million for Fairview Mall transit terminal.

$2,531,000 for the University of Waterloo transit plaza.

$775,000 Northfield Drive transit facility.

All but one of the projects are already underway – the Northfield Drive transit facility is anticipated to begin in January.

Funding will make transit 'more efficient and inclusive'

In an announcement Tuesday in Barrie, Ont., Prime Minister Justin Trudeau said the funding will "shorten commute times and make transit more efficient and inclusive."

Premier Kathleen Wynne said having the federal government help pay for these projects "makes a huge difference."

The local funding will be announced at a press conference at 3 p.m. at the Region of Waterloo administration building at 150 Frederick St., in Kitchener. Government Leader, Minister of Small Business and Tourism and Waterloo MP Bardish Chagger, as well as provincial parliamentary assistant to the minister of transportation and Kitchener-Centre MPP Daiene Vernile are expected to be on hand for the announcement.