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Gridlock stalling Toronto's economy: Toronto Board of Trade

University Avenue in Toronto

TORONTO, Ont. – Traffic congestion remains a serious roadblock, the second annual Toronto Board of Trade report on Toronto area’s prosperity found.

The Board of Trade’s scorecard placed Toronto in fourth spot overall; however, the city bottomed out when it came to commute times.

“The report shows they are getting worse, so there is another clearly strong proof and evidence that says they are getting worse,” said Board of Trade president Carol Wilding. “We’ve under-invested, we’ve got to get on with it.”

Wilding said it’s time government, business and residents debated revenue options, including private investment in public transit and possibly road tolls.

“When you put commuting time in there, in terms of both the labour attractiveness issue around people’s willingness or desire to want to live in an urban centric, particularly the younger ones, they want transit systems that work effectively and move people around really fast,” Wilding said.

The Organisation for Economic Co-operation and Development estimates that traffic congestion in the Toronto region costs Canada over $5-billion per year.

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