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Ontario Construction News staff writer
The proposed Highway 413 support up to $2.3 billion of earnings and 8,000 jobs in construction and other industry during the five-year construction period, says a report from the Residential and Civil Construction Alliance of Ontario (RCCAO).
In addition, the project would provide substantial economic benefits and generate significant tax revenues for governments.
“The GTA West Corridor is a transformational project for the economic success of the province, ensuring a reliable transportation corridor to help move people and goods across this fast growing region of Ontario,” said RCCAO executive director Nadia Todorova.
“Constructing Highway 413 will generate much-needed jobs while improving the long-term economic competitiveness of our province.”
One significant benefit would be the opportunity to train the next generation of builders in Ontario with up to 600 new apprenticeships.
The findings were revealed in a jobs and economic impact report released by RCCAO last week. The report, Jobs and Economic Impact of the GTA West Corridor, was prepared for RCCAO by Prism Economics and Analysis.
The population of the GTA is expected to grow by 2.8 million people over the next 25 years, with 58 per cent of the growth happening in York, Peel, and Halton regions. Building Highway 413 will create a transportation corridor for additional future transit development to serve a growing region where more than 80 per cent of people commute by vehicle.
The project would also generate nearly $1 billion in tax revenues for governments.
“This highway for the future will be built for the people and goods of tomorrow, facilitating much needed housing and solidify Ontario’s position as the economic engine of Canada,” said Todorova.
“Establishing this transportation corridor is a forward-thinking mix of transit and transportation infrastructure that the province needs for its future growth.”
The report adds to the recent momentum of support for Highway 413 and the transportation corridor it would create in a fast-growing region of Ontario. RCCAO is urging the federal government to work collaboratively with the provincial government so Ontario can get shovels in the ground and get Highway 413 built.