Billy Bishop Toronto City Airport, a 10-minute drive from downtown, “has become a unique and powerful economic asset for greater Toronto,” according to a report published by PortsToronto and authored by University of Toronto professor Dr. Richard Florida. “Its role has become even more important to the ongoing recovery of the city…in the wake of the Covid-19 pandemic,” the report notes.
The report says the 83-year-old airport is projected to have added about $3 billion to Toronto’s economy in 2022, up from $2.1 billion in 2019. That amount is expected to grow to nearly $4.8 billion by 2025.
Much of this input is derived from general and business aviation flights. “Because of its downtown location and short travel times, business travelers who fly into Billy Bishop Airport can easily attend a morning or even an afternoon or early evening meeting and be home that same night,” said Florida.
Meanwhile, PortsToronto said in its latest master plan, “Our goal is to optimize the airport as a general aviation airport…yet balance operations with the interests of the community and the protection of the environment through initiatives that will mitigate the negative impacts associated with airport operations.” For example, hybrid or electric aircraft using the airport are exempt from landing fees.