Federal funding contributes to critical infrastructure projects to support trade through the Port of Vancouver
The Vancouver Fraser Port Authority received federal funding this week for projects that will improve the flow of goods to and from the Port of Vancouver, the company said in its press release.
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, an infrastructure program called the Greater Vancouver Gateway 2030 strategy was created to ensure the roads and railways that lead to the Port of Vancouver are ready to manage Canada’s growing trade. After extensive study, nearly 40 priority infrastructure projects were identified for the Lower Mainland region.
“Yesterday’s funding announcement means a key group of these projects will move forward – so that is terrific news for our region and for Canada,” said Robin Silvester, president and chief executive officer at the Vancouver Fraser Port Authority. “As a Canada Port Authority, we’re working to prepare the Port of Vancouver to handle anticipated trade growth, but we rely on the networks that connect the port to the rest of Canada. This investment will both support Canada’s growing Trans Pacific trade and protect the livability of local communities.”
In the past decade, government, the port authority and industry have worked together to invest nearly $7.5 billion to increase Canada’s trade through this region. The $55.8 million in funding announced today by the Honourable Marc Garneau, Minister of Transport, will allow the port authority and its partners to advance projects that will address key road and rail bottlenecks to help Canadian companies get their products to market faster.
The port authority commends government for its investment in infrastructure projects that will address transportation challenges along Canada’s trade corridors, improve the movement of goods through the port, and help ease the impacts of growing trade on local communities. In particular, the engagement with community leaders and stakeholders by the members of Parliament for Pitt Meadows – Maple Ridge, Coquitlam – Port Coquitlam, Burnaby North – Seymour, and North Vancouver has been exemplary.
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.