Highway 413 to create 8,000 jobs annually, generate $2.3 billion in earnings for Ontario workers
The project, known as Highway 413, would support up to 8,000 jobs annually in construction and other industries over a five year construction period, generating up to $2.3 billion of earnings for workers in Ontario. It would also train the next generation of builders.
The findings were revealed in a jobs and economic impact report by the Residential and Civil Construction Alliance of Ontario (RCCAO). The report, called Jobs and Economic Impact of the GTA West Corridor, was prepared for RCCAO by Prism Economics and Analysis.
The population of the GTA is expected to grow by 2.8 million people over the next 25 years.
The construction of Highway 413 will create a transportation corridor for additional future transit development to serve a growing region where more than 80% of people commute by vehicle. The project would also generate nearly $1 billion in tax revenues for governments. The report estimates were assessed using 2019 dollar values. ■