For more than 100 years, PortsToronto has worked with its partners at the federal, provincial and municipal levels to enhance the economic growth of the City of Toronto and the Greater Toronto Area (GTA). Today, Billy Bishop Airport and the Port of Toronto act as urban transportation hubs for Canadian and international businesses to gain easy, convenient and cost-effective access to the heart of Canada’s most populated city and province.
Billy Bishop Airport
Billy Bishop Airport is fast becoming a key facilitator of business travel and tourism and a significant contributor to Toronto’s economic growth.
As an emerging regional hub, the airport links the Greater Toronto Area (GTA) to major North American cities, and has become a vital part of business growth, supporting Toronto’s international competitiveness. The airport brings direct and indirect economic benefits to the GTA, supporting Toronto’s key sectors; financial services, life sciences, creative industries, food and beverage, and film and television.
Billy Bishop Airport’s economic impact* in 2014 includes:
- $2.1 billion in economic output, a 10 per cent increase from 2012;
- More than 6,500 jobs representing 6,220 person years of employment (1,960 of which are directly associated with Billy Bishop Airport);
- $695 million in Gross Domestic Product (GDP);
- $385 million in wages; and,
- Overall tax revenue and Payments-in-Lieu of Taxes (PILTs) of approximately $74 million annually.
Since 2006, the airport has seen an exponential year-over-year increase in passenger numbers. As passenger traffic continues to increase, the airport’s operations are expected to continue to stimulate business and commerce, translating into measurable and sustainable economic growth for years to come.
*According to economic impact study results based on a review of 2014 operations. The full economic impact report is available here.
Port of Toronto
Serving primarily as a bulk cargo facility, the Port of Toronto is a unique addition to Toronto’s economic infrastructure that provides a network of intermodal links to road, rail and air transportation.
Some of the 2014 Port highlights include:
- 2.01 million metric tonnes passing through the Port, up 29% from 2013
- 55 % surge in domestic bulk cargo shipments
- 6 % increase in cement tonnage
- 6 cruise ship visits
- 2,986 cruise ship passengers
Due to the snowy winter of 2013, the Port of Toronto saw all of its salt storage used up for the first time in several years. The re-stocking of the Port’s salt stockpiles contributed to 36% of the Port’s total 2014 tonnage. The Great Lakes cruise industry is experiencing constant growth, with the Port hosting 2,986 cruise ship passengers in 2014.
With its unmatched vistas of downtown Toronto and proximity to the city’s cultural centre, the Port has become a popular filming location for major television dramas and big-screen blockbusters. In 2014, the Port generated $143,000 from productions like Hannibal, The Strain, Transporter and Pixels.