Vancouver to benefit from more than $200 million in federal funding for key goods-movement infrastructure projects
Port authority applauds the federal government’s significant investment in projects that will reduce traffic congestion, improve goods movement, and enable more efficient transportation corridors
Today, the federal government announced $167 million in funding for three projects that will improve the movement of goods to and from the Port of Vancouver and support Canada’s competitive position in international trade.
This, combined with $55.8 million announced last month for four other critical infrastructure projects in the region brings the total funding amount through Transport Canada’s National Trade Corridors Fund to more than $200 million.
“Today, it’s my great pleasure to thank Minister Garneau and his government for the significant investment in critical road and rail projects that will both support Canada’s growing Trans-Pacific trade and protect the livability of local communities,” said Robin Silvester, president and chief executive officer at the Vancouver Fraser Port Authority.
The National Trade Corridors Fund is part of Transport Canada’s Transportation 2030, a strategic vision to support a safe, secure, green, innovative and integrated transportation system that better moves products to markets and grows Canada’s trade.
After extensive study, nearly 40 priority infrastructure projects were identified for the Lower Mainland region and close to half were submitted for funding through the National Trade Corridors Fund. The list was compiled through the collaborative efforts of the port authority, Transport Canada, B.C.’s Ministry of Transportation and Infrastructure, TransLink and the Greater Vancouver Gateway Council, culminating in an infrastructure strategy called Greater Vancouver Gateway 2030 designed to ensure the roads and railways that lead to the Port of Vancouver are ready to manage Canada’s growing trade.
The investment in infrastructure announced by the federal government over the last month means that a key group of these projects will be moved forward and will provide national, provincial, regional, and local benefits. Key among these benefits is the alleviation of transportation bottlenecks, which will greatly increase the efficiency of moving commodities, such as grain, through the Port of Vancouver. These improvements will enable Canadian companies to get their products to market faster, while also reducing congestion on the roads for local communities.
“Together with our local members of Parliament, municipalities, Indigenous groups, and our industry stakeholders, we look forward to continuing to work on these and future projects that prepare our region and the Port of Vancouver for Canada’s expanding trade opportunities,” continued Silvester.
- Gateway Transportation Collaboration Forum
- Transportation 2030
- Transport Canada National Trade Corridors Fund
- June 22, 2018: The Government of Canada invests in road and rail infrastructure for the Port of Vancouver and Canadian National
- May 17, 2018: The Government of Canada invests in transportation infrastructure for the Port of Vancouver in British Columbia
About Vancouver Fraser Port Authority
The Vancouver Fraser Port Authority is responsible for the stewardship of the federal port lands in and around Vancouver, British Columbia. It is financially self-sufficient and accountable to the federal minister of transport and operates pursuant to the Canada Marine Act. The Port of Vancouver is Canada’s largest, and the third largest in North America by tonnes of cargo, facilitating trade between Canada and more than 170 world economies. Located in a naturally beautiful setting on Canada’s west coast, the port authority and port terminals and tenants are responsible for the efficient and reliable movement of goods and passengers, integrating environmental, social and economic sustainability initiatives into all areas of port operations. Enabling the trade of approximately $200 billion in goods, port activities sustain 115,300 jobs, $7 billion in wages, and $11.9 billion in GDP across Canada.
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