{"id":89511,"date":"2019-08-05T08:30:02","date_gmt":"2019-08-05T06:30:02","guid":{"rendered":"https:\/\/newsroom.ferrovial.com\/?post_type=new&#038;p=89511"},"modified":"2022-12-21T08:58:35","modified_gmt":"2022-12-21T07:58:35","slug":"cancea-releases-report-about-impacts-of-highway-407-etr","status":"publish","type":"new","link":"https:\/\/newsroom.ferrovial.com\/en\/news\/cancea-releases-report-about-impacts-of-highway-407-etr\/","title":{"rendered":"CANCEA Releases Report on the Economic and Social Impacts of Highway 407 ETR"},"content":{"rendered":"    <section class=\"wysiwyg text-editor \" id=\"\">\n        <div class=\"container container--narrow container--p-10\">\n            <p>The report, entitled <em>Economic Impacts of Highway 407 ETR: Implications for Travelers, Transportation and Prosperity<\/em>, concluded that the highway has been a <strong>strong and consistent contributor to the economic activity, quality of life and social benefits<\/strong> enjoyed by the people living and working across the corridor. Commissioned by the 407 ETR, the report demonstrates that toll roads <strong>save drivers and businesses time and money<\/strong>, while it also contributes positively to the GDP and social benefits through the ongoing private sector investment in the extension and expansion of the highway.<\/p>\n<p>Among the many important findings presented in the report, there are a few worth noting:<\/p>\n<p>-Since 1999, the 407 ETR has supported <strong>economic benefits worth $15.9 billion<\/strong> within Ontario, with this number expected to grow by <strong>$724 million<\/strong> over the next year.<\/p>\n<p>-Drivers save an average of over <strong>22.7 million hours<\/strong> on the road annually and commercial\/business users save an average of <strong>7.7 million hours<\/strong> of driving each year, both which are forecasted to continue growing.<\/p>\n<p>-Since 1999, investments in Highway 407 ETR, as well as ongoing operation and maintenance activity has <strong>generated an average of 72,000 years of employment and $4.7 billion in wages<\/strong>.<\/p>\n<p>-By using 407 ETR, drivers <strong>emit 108 fewer metric tonnes of CO2 each year<\/strong>, on average. This is due to higher, consistent speeds that are closer to the speed at which emissions are minimized compared to the prevailing speeds on toll-free highways and major roads.<\/p>\n<p>-The value of the <strong>residential economic activity and commercial real estate<\/strong> activity occurring in the 407 ETR corridor annually amounts for <strong>$16.5 billion and $2.6 billion<\/strong> respectively.<\/p>\n<p>-Every $1 invested by 407 ETR Inc. has resulted in a <strong>GDP increase of $1.54<\/strong>. Since 1999, 407 ETR Inc. has invested $4.6 billion into capital and operations. This has generated direct, indirect and induced effects that have contributed a combined total of <strong>$7.1 billion to provincial GDP<\/strong> (70% direct and indirect, 30% induced).<\/p>\n<p>-407 ETR operations has generated an average of <strong>$43 million dollars in tax revenue for the Provincial and Federal governments<\/strong> each year since 1999.<\/p>\n<p>&#8211;<strong>Traffic speeds on Highway 407 ETR are consistently higher<\/strong> than on alternate routes, with <strong>lower<\/strong> <strong>collision rates <\/strong>compared to the provincial freeway average.<\/p>\n<p>-Highway 407 ETR usage has steadily increased since 1999 and averaged <strong>413,000 weekday trips<\/strong> in 2017, representing 50% more trips than there are riders on the entire network of GO buses and trains on an average weekday.<\/p>\n<p>-The cumulative savings in <strong>\u201csocial costs\u201d<\/strong> since 1999 have reached <strong>$1.4 billion<\/strong>. In 2017, savings in social costs were higher than the average \u2013 hitting $84 million.<\/p>\n<p>-Since 2001, the <strong>population in the 407 ETR corridor has increased by 506,000 residents<\/strong>, while the number of <strong>jobs grew by 199,000<\/strong>.<\/p>\n<p>-407 ETR is <strong>the longest stretch of non-bottleneck highway<\/strong> in the GTHA.<\/p>\n<h2><strong>ABOUT CANCEA<\/strong><\/h2>\n<p>The Canadian Centre for Economic Analysis (CANCEA) is a socio-economic research and data analytics firm that provides objective, independent and evidence-based analysis and is dedicated to a comprehensive, collaborative, and quantitative understanding of the short- and long-term risks and returns behind market changes, policy decisions and economic behavior.<\/p>\n<h2><strong>ABOUT 407 ETR<\/strong><\/h2>\n<p>Highway 407 ETR continues to be <strong>the best way to travel across the top of the Greater Toronto Area<\/strong>. Drivers make over 415,000 trips each workday and continue to report that using the toll road <strong>saves them significant time, reduces their fuel consumption and vehicle maintenance costs<\/strong> and staying out of gridlock and heavy traffic elsewhere means <strong>lower harmful CO2 emissions<\/strong>. Use of the toll road has increased steadily since opening in 1999 and is now well known as the <strong>route of choice for businesses<\/strong> to move goods efficiently and for <strong>people wanting to save time<\/strong> for the things that matter most.<\/p>\n<p>The full report can be read at <a href=\"https:\/\/www.cancea.ca\/407etr\" target=\"_blank\" rel=\"noopener\">www.cancea.ca\/407etr<\/a><\/p>\n        <\/div>\n    <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":89512,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","nivel-2":[1081,1194,1191,1184],"nivel-5":[1730],"nivel-1":[903],"nivel-3":[1318],"nivel-4":[],"class_list":["post-89511","new","type-new","status-publish","has-post-thumbnail","hentry","nivel-2-cars","nivel-2-emissions-reductions","nivel-2-road-network","nivel-2-urban-planning","nivel-5-cintra-en","nivel-1-highways","nivel-3-canada-en"],"acf":[],"yoast_head":"<title>CANCEA Releases 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