Toronto Board of Trade

Toronto Board of Trade

April 01, 2009 16:35 ET

Business Welcomes Transit Funding, says Toronto Board of Trade

Premier’s announcement essential for region, says President and CEO Carol Wilding

Attention: Assignment Editor, Business/Financial Editor, City Editor, Government/Political Affairs Editor, Transportation Editor TORONTO, ONTARIO, NEWS RELEASE--(Marketwire - April 1, 2009) - The Toronto Board of Trade called Premier Dalton McGuinty's $9 billion transit announcement for the Toronto region a crucial leap forward in the implementation of Metrolinx' $50 billion plan to improve the safe, efficient and sustainable movement of goods and people.

"In a single day, this government has almost entirely delivered on its promise to spend $11.5 billion on new transit projects for this region," said Toronto Board of Trade President and CEO Carol Wilding. "It also demonstrates the government's commitment to a regional vision of transit for Toronto."

Today's announcement, coupled with Monday's governance reforms for Metrolinx, shows this government is acting on the advice of Toronto's business community. The Toronto Board of Trade has been a leading advocate of a regional transit vision, and much of today's funds are destined for projects the Board has singled out as its priorities, including:

* The Finch rapid transit line,
* The refurbishment and expansion of the Scarborough Rapid Transit line, and
* The construction of dedicated bus lanes in York region to enhance the VIVA system.

"This region's economic growth is being constrained, quite literally, by gridlock," said Ms. Wilding. "Our inability to move people and goods efficiently is a disincentive to business. The projects announced today are an environmentally responsible way to open up our network and give our economy room to grow. That's why this city's business community so strongly supports public transit."

The Board of Trade will continue to work with the government to maintain the momentum of this week's announcements. "We need to bridge the funding gap to make sure we can go the distance on a regional transit solution," said Ms. Wilding. "A strong transit strategy is paramount to keeping people, goods, and our economy moving forward."

About the Toronto Board of Trade (www.bot.com)
Founded in 1845, the Toronto Board of Trade is Canada's largest local chamber of commerce, connecting more than 200,000 business professionals and influencers throughout the Toronto region. The Board of Trade advances the success of its members and the entire Toronto region by facilitating opportunities for knowledge sharing, networking, business development and city building.

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For more information contact:
Philip Preville
Director of Public Affairs
Toronto Board of Trade
416-862-4514 ext. 4514
ppreville@bot.com

IN: ECONOMY, FINANCE, POLITICS, TRANSPORT

Contact Information

  • Philip Preville, Director of Public Affairs, Toronto Board of Trade
    Primary Phone: 416-862-4514