Chambers and Board of Trade Support GO Rail Service Expansion
Kitchener, ON – The Chambers of Commerce of Guelph and Greater Kitchener Waterloo and the Brampton Board of Trade strongly support two-way, all-day GO rail service between Waterloo Region and Union Station.
A report released in 2014 by the cities of Guelph, Kitchener and Waterloo along with the Region of Waterloo indicates that a technology economy of 12,800 companies with over 205,000 employees could be created by simply connecting Toronto-Brampton-Guelph-Kitchener-Waterloo. More frequent service, particularly both ways in the morning, would generate economic activity resulting in revenue from potential personal income taxes of $574 million, to largely offset the approximate one-time capital costs.
In early 2015, the City of Brampton joined the Guelph-Waterloo Region innovation partnership advocating for improved and expanded GO rail service. The City of Brampton is currently adding information and data that will significantly strengthen the previously compiled business case. With two-way, all-day GO rail service, the regional economies along this corridor will create a globally competitive tech environment that is comparable to Silicon Valley, connecting 13,000 companies, attracting 3,000 startups and creating over 40,000 new jobs.
It will also create an environment that attracts business, encourages employment, helps reduce gridlock and gets people home to their families faster. It is estimated that $344 million will be saved in commuter and environmental costs.
Infrastructure that connects people to jobs is critical to the economic future of this province. Now is the time to purposefully build a system that enables companies to grow and enable innovation to thrive. Our chambers want to add their voices in support of this partnership and commend the group of cities for uniting on this issue.
For further information contact:
|Ian McLean, President & CEO
Greater Kitchener Waterloo
Chamber of Commerce
President & CEO
Guelph Chamber of Commerce
Chief Executive Officer
Brampton Board of Trade