Billy Bishop Toronto City Airport Generates Economic Output of Almost $2 Billion
TORONTO, April 2, 2013 /CNW/ - Billy Bishop Toronto City Airport welcomed more than 1.9 million travellers in 2012, a 23 per cent increase over 2011. Along with higher passenger volumes, 2012 highlights included strong economic numbers, the start of construction on the pedestrian tunnel and several successful community initiatives.
"The double-digit increase in passenger numbers speaks to Billy Bishop's growing popularity with travellers. These positive results coupled with exciting infrastructure investments made 2012 a year to remember," said Toronto Port Authority (TPA) President and CEO Geoffrey Wilson.
In addition to facilitating a record number of air travellers in 2012, work began on the highly anticipated pedestrian tunnel to Billy Bishop Toronto City Airport. The tunnel will be completed in mid-2014 and give travellers convenient, predictable and reliable access to Billy Bishop Toronto City Airport. TPA also completed the first of two noise mitigation barriers at the airport, with the second barrier slated for installation after the tunnel has been completed.
A recently released independent economic impact study of the Billy Bishop airport revealed that it generates total annual economic impacts, including indirect and induced multiplier effects, of:
- $1.9 billion in direct economic output
- Approximately 5,700 jobs representing 5,400 person years of employment (1,700 of these jobs are directly associated with the airport)
- $640 million in gross domestic product (GDP)
- $290 million in wages
The Port of Toronto posted growth in key areas as well. In 2012, the port handled 1.86 million tonnes of cargo, a 5 per cent increase over 2011. Overseas bulk increased 23 per cent over 2011 whilst warehousing and project staging services enjoyed strong, continued growth.
TPA made several infrastructure improvements at the award winning Outer Harbour Marina in 2012. In addition to upgrading all of the marina's slips with new state-of-the-art floating docks, TPA introduced free wireless Internet at the marina and installed a 20,000 square foot heated indoor boat storage facility that is the only one of its kind in Toronto.
TPA continued its commitment to the community through financial contributions and active dialogue. TPA invested in a number of community organizations and initiatives, including Harbourfront Centre's Uncharted Waters exhibit, which runs to June 2013. The TPA also provided funding to the Room 13 Art Studio at Harbourfront Community Centre, the Disabled Sailing Association of Ontario, the Canadian Art Foundation's Reel Artists Film Festival and its annual fall Gallery Hop.
The airport's Community Liaison Committee continued to meet quarterly, and TPA established a Tunnel Committee comprising residents and airport stakeholders for the duration of the pedestrian tunnel's construction. TPA also held the second Sail-In Cinema™ at Sugar Beach in August 2012. More than 2,000 people and 70 boats attended the unique event.
All TPA operations, including the BBTCA, continued to be 100% powered by BullFrog Power, Canada's green electricity retailer. The TPA continues to be one of the largest buyers of green power in the country.
"2012 was another banner year for the TPA. Our commitment to economic sustainability, growth and community involvement will continue to guide us through 2013", said Board of Directors Chairman, Mark McQueen. "As much as the pedestrian tunnel will go down as one of the great Toronto infrastructure initaitives of this century, I am equally proud of the contribution that all TPA employees made towards these achievements in 2013."
About the Toronto Port Authority (www.torontoport.com)
The Toronto Port Authority (TPA) owns and operates Billy Bishop Toronto City Airport, the Port of Toronto (Terminals 51 and 52), and Toronto's Outer Harbour Marina. In addition to moving more than two million passengers through the airport in 2012, the Port Authority provides transportation, distribution, storage and container services to businesses at the Port, and owns and operates Toronto's largest freshwater marina. The Toronto Port Authority was incorporated on June 8, 1999 as a government business under the Canada Marine Act as the successor to the Toronto Harbour Commissioners.
SOURCE: Toronto Port Authority
For further information:
Media Contact: Pamela McDonald, Director, Communications and Public Affairs (416) 863-2028 or (647) 405-8185 (mobile), email@example.com