Updated Research Highlights Billy Bishop Toronto City Airport’s G

The research study projects future benefits resulting from next year's introduction of Preclearance at Billy Bishop Toronto City Airport, and in line with the airport's existing managed growth strategy:

• A net impact of $5.3 billion in annual GDP (up from $4.8 billion in earlier research)
• $215 million in total annual tax revenue, based primarily on direct on-site activities (up from $150 million)
• 3,680 on-site jobs (up from 3,350)

York Aviation also projects increased choice for passengers in the form of more than 10 new routes to the US, with this growth in connectivity resulting in approximately 32,000 jobs supported across the wider economy. To view the original study, click here.

Quotes

"Our economic impact includes tourism spend, which is hugely important to Toronto's economic vibrancy, and this latest research makes it clear that Billy Bishop Toronto City Airport is an important driver of the city's visitor economy," said Neil Pakey, President and CEO of Nieuport Aviation, owner and operator of the passenger terminal at YTZ. "Just in time for FIFA 2026, the introduction of US CBP preclearance will not only grow the airport's already significant economic contribution, but also increase the choice in destinations that we offer our passengers."

"Billy Bishop Toronto City Airport is an undisputed economic engine for the City of Toronto and region by enabling tourism and trade, creating jobs and driving GDP," said RJ Steenstra, President and Chief Executive Officer, PortsToronto, owner and operator of Billy Bishop Toronto City Airport. "The research conducted by York Aviation would indicate that the projected economic benefits of Billy Bishop Toronto City Airport will increase in the coming years due to investments in US CBP Preclearance, which will offer significant benefits to the travel experience, destination offering and economic impact."

"Airports are key to a city's economic prosperity in a globalized world and Billy Bishop Toronto City Airport is no exception," said James Brass, Partner, York Aviation. "The airport's city center location is invaluable to businesspeople and visitors, and this is reflected in its economic value. Preclearance will enhance this locational advantage, unlocking growth and enabling the airport to fulfil its potential as an economic driver."

"As with their original report, the authors prepared an excellent follow-up, using leading-edge methodologies for evaluating the economic contributions of airports, especially for the role of connectivity," said Fred Lazar, Associate Professor of Economics, Schulich School of Business, York University. "This latest report once more demonstrates the many benefits that Billy Bishop Toronto City Airport provides to the city of Toronto and the province of Ontario."

Methodology

The research has used well established and accepted methodologies to examine the economic impact of Billy Bishop Toronto City Airport. The approach considers a wide range of effects, from its role in job creation on-site at the airport, through to its function as a catalyst for trade and investment through enabling business travel. In developing the methodology, York Aviation worked with Professor Fred Lazar, Associate Professor of Economics, Schulich School of Business, at York University, as a peer reviewer.