HAMILTON, ON, Aug. 21, 2019 /CNW/ - The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors are key to the success of Canadian companies in the global marketplace. The Government of Canada invests in infrastructure projects that create quality, middle-class jobs and support economic growth.
Today, the Honourable Filomena Tassi, Minister of Seniors and Member of Parliament for Hamilton West — Ancaster — Dundas, on behalf of the Honourable Marc Garneau, Minister of Transport, announced a major investment of $5.5 million for a project that will increase capacity at the Port of Hamilton, and move Canadian goods to international markets more efficiently.
The Port of Hamilton is the primary export gateway for Ontario-grown grain to global markets. Currently the port is facing capacity constraints at Pier 10 which result in shipping delays.
Expansion of the port will create additional export capacity for agricultural products by building covered storage for bulk goods, addressing congestion by creating additional docking space that will mitigate vessel wait time, and improving the efficiency of the transportation system and food-processing supply chain.
These investments are expected to have important economic and employment benefits for the region by creating an estimated 110 jobs in the region during construction.
The Government of Canada is supporting infrastructure projects that contribute most to Canada's success in international trade. Trade diversification is a key component of the National Trade Corridors Fund, through projects that:
- improve the fluidity and performance of the transportation system to increase the value and volume of goods exported from Canada to overseas markets; and
- generate new overseas trade as a result of the investment.
"Transportation and distribution of goods are a vital part of our local, regional and national economies. The investment announced here today will make our transportation system stronger by addressing urgent capacity constraints at the Port of Hamilton and fostering long-term prosperity for our community."
The Honourable Filomena Tassi
Minister of Seniors and Member of Parliament for Hamilton West — Ancaster — Dundas
"Our government is investing in Canada's economy by making improvements to our trade and transportation corridors. We are supporting projects to efficiently move goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and ensure that Canada's transportation networks remain competitive and efficient."
The Honourable Marc Garneau
Minister of Transport
- An efficient and reliable transportation network is key to Canada's economic growth. The Government of Canada, through the National Trade Corridors Fund, is making investments that will support the flow of goods to international markets. While the United States continues to be Canada's top trade partner with $741.4 billion in trade ($437.6 billion exported, $303.8 billion imported) in 2018, trade is growing with international markets. From 2015 to 2018, trade with Asia (excluding the Middle East) grew by 18.9 per cent to $199.2 billion and trade with the European Union grew by 19 per cent since 2015 to $118.1 billion in 2018.
- Ontario grain yields are increasing, and the project will provide 225,000MT of additional grain export capacity per year.
- The project will create new potential export opportunities for soybean meal, brewers dried grain and canola meal destined for Asian markets.
- The Government of Canada is making investments that help Canadian exporters accelerate their presence in new markets, and take advantage of the new opportunities that exist because of the trade agreements the Government has secured in the past three years. By investing in export-intensive industries, the Government is committed to the creation of well-paying jobs and strengthening Canada's economy.
- Through the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.
- National Trade Corridors Fund Backgrounder
- Trade and Transportation Corridor Initiative
- Investing in Canada Plan
- Transportation 2030
SOURCE Transport Canada
For further information: Delphine Denis, Media Relations Manager, Office of the Honourable Marc Garneau, Minister of Transport, Ottawa, 613-991-0700, [email protected]; Media Relations, Transport Canada, Ottawa, [email protected], 613-993-0055