Feds commit $94M to Pearson cargo handling project
The federal government has committed nearly $94 million to fund construction of a cargo development project at Toronto’s Pearson International Airport.
The project will improve cargo capacity by building two new facilities: the South Cargo Transfer Development Facility (YYZ South) and the North Cargo Apron Development (YYZ North).
YYZ South will increase capacity for incoming cargo, and YYZ North will build additional infrastructure for more cargo aircraft parking spaces, which will also increase cargo capacity.
"The substantial funding from National Trade Corridors Fund for our cargo development project will enhance our position as a vital gateway for global and domestic cargo operators,” said Deborah Flint, President and CEO, Greater Toronto Airports Authority. “With improved capacity and infrastructure, we will facilitate faster and more efficient goods transfer, benefiting Canadian businesses and consumers. Toronto Pearson Airport is a competitive cargo hub, that is critical to the serving the population and the growing manufacturing sector in the country.”
The government says the projects will help strengthen supply chains and ensure Canadians get the goods they need on time. Together, the facilities will help handle more essential cargo coming through Pearson Airport.
The projects are being funded under the National Trade Corridors Fund, a program created to help infrastructure owners and users invest in the critical transportation assets that support economic activity in Canada.
The program is valued at $4.6 billion over 11 years.