February 8, 2023
Report outlines benefits of downtown airports
A new report published by PortsToronto and authored by urbanist and University of Toronto Professor Dr. Richard Florida states a centrally located, city airport is critical to Toronto’s continued growth and ambitions.
The report, titled, Toronto’s Downtown Airport: A Powerful Economic Asset in the City’s Urban Core, notes that city airports, like Billy Bishop Toronto City Airport, support businesses, provide connectivity and unlock opportunities that make a city world class. These airports also have a key role in building knowledge economies, outlines the report, playing a critical role in the circulation of people and ideas.
“Billy Bishop is central to Toronto’s prosperity,” said Richard Florida. “It brings tourists and much needed revenue to the city and its urban core, which are still recovering from the pandemic. More importantly, it provides a direct gateway to leading cities such as New York, Washington, D.C., Boston, and Chicago, bolstering Toronto’s role as a global talent and tech hub.”
Billy Bishop Airport is projected to have added roughly $3 billion dollars to Toronto’s economy in 2022, up from $2.1 billion in 2019, and an amount which is expected to grow to nearly $4.8 billion by 2025.
According to a 2022 survey, PortsToronto notes 85 per cent of Toronto residents “agree” that “Billy Bishop Toronto City Airport is a valuable asset for the entire city”. A majority of Torontonians also agreed that Billy Bishop Airport is a good use of land (82%); that it makes sense to have an airport downtown (85%); and that the airport plays a central role for business, health care, and job creation for the city (78%).
The full report is available from PortsToronto.