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Transit fix key to economic growth: TD report

The Toronto region must tackle gridlock and public transportation to sustain its economy in the coming years, according to a new report from TD Economics.

“Transportation is a lifeline of an economy,” the report said. “An inadequate transit system is costly in terms of reducing mobility of people, including cutting off those in poverty from job opportunities, as well as business. It also forces people into their cars to the detriment of the environment.”

Transportation is one of several key issues that need to be addressed in the coming years, which are expected to be a time of slower economic growth, TD said in the report, slated to be released Thursday.

Other challenges include aging physical infrastructure, an aging workforce, slower population growth, too few opportunities for youth, and too many marginalized residents.

The report focuses on the Greater Toronto Area and the city of Hamilton. It was written by Derek Burleton, deputy chief economist, and Sonya Gulati, senior economist, and prepared at the request of the Greater Toronto CivicAction Alliance, a coalition of community leaders that is focused on urban issues.

That group, which is spearheading a public awareness campaign about gridlock that asks, “What would you do with 32?” will hold its upcoming forum Our Region, Our Move in Toronto on April 17.

 

Author:

Madhavi Acharya-Tom Yew

Appeared In (Publisher):

The Toronto Star