Infrastructure – a top priority for our region
Board of Trade members have consistently told us that
a strong infrastructure foundation is a top priority to ensure
Toronto’s economic competitiveness today and as our city continues
to grow and evolve. The Board’s ongoing
advocacy on infrastructure has focused on transit and transportation
— particularly on ensuring that Metrolinx’s bold,
$50-billion regional transportation plan, The Big Move, becomes
a reality.
Toronto Region Board of Trade partners with boards of trade to
enhance “Hub Cities’” infrastructure
Collaboration is key with nearly any advocacy initiative no matter what
the goal. And, investing in public infrastructure helps nearly any
business or economy. Toronto Region Board of Trade’s work with three
levels of government including municipalities in the Greater
Toronto-Hamilton Area, along with other organizations and boards of
trade is an example of how ongoing collaboration for public
infrastructure can help our economy.
Toronto Region Board of Trade is participating in a group that
emphasizes the unique needs and issues confronting “Hub Cities” in
Canada. These are cities that are at the centre of metropolitan areas
and play an important role in the economic welfare of their respective
regions.
The Hub-City Chambers of Commerce Caucus is the body through which
fellow Hub Cities in Canada collaborate to advocate. One key priority
presently for the Caucus is public infrastructure.
Investing in infrastructure benefits Board Members and the entire
economy
According to the Conference Board of Canada, an investment of $1 in
public infrastructure reduces business costs by 11 cents and increases
Canada’s real GDP by up to $1.20. Making investments like this will
help businesses in the Toronto Region compete and succeed in world
markets.
In December, 2012, the Hub-City Chambers of Commerce Caucus announced
its goal of establishing a Long-Term Infrastructure Plan (LTIP). To
learn more about this initiative, please see the Caucus’ joint statement
here
Why is regional transportation so vital to our future?
Gridlock and congestion impede our mobility and productivity on a
daily basis. The Board’s Scorecard
on Prosperity 2010 showed that Torontonians currently face some
of the longest commute times worldwide. The Organization for Economic
Cooperation and Development (OECD) recently concluded that
Toronto’s lack of transportation infrastructure is the leading
drag on our region’s global competitiveness. Acording to Metrolinx figures, gridlock costs the region $6
billion annually.
What is regional transportation?
The Big Move. Transit City. Move Ontario
2020. Transit in the Toronto region falls under a number of
headings. But for businesses and residents, they all mean the same
thing: Helping the region improve its competitiveness and quality of
life by helping our disparate transit systems overcome decades of
chronic underinvestment and lack of coordination.
• Read Regional
Transportation: A Guide for the Perplexed, and learn more about the
initiatives involved in building the Toronto region of the future
• See the connection between Transit
City and Metrolinx’s The Big Move
Success stories: Getting regional transportation on track
As the leading voice in support of a regional
transportation vision, the Board’s advocacy was instrumental in
the creation of Metrolinx, the Province’s regional transportation
authority for the Greater Toronto-Hamilton Area (GTHA), as well as the
passage of The Big Move, Metrolinx’s Regional
Transportation Plan in 2008.
Based on long-standing policy positions championed by
the Board, the Province reformed Metrolinx’s governance structure
in March 2009, investing the agency with greater legislative powers and
introducing a Board of Directors comprised of private-sector
experts. The Board’s ongoing work then resulted in over $10
billion in funding commitments from the provincial and federal
governments for shovel-ready Metrolinx projects.
