Friday, July 22, 2011
Londoners Focus on 401 Corridor Opportunities
Londoners got an up close look this morning at the job and economic
opportunities that lie ahead with the development of the 401east corridor.
Mayor Fontana was joined by Councillors and representatives of various
business and labour groups, with the release of a major economic impact
analysis/justification report. The 100 page report details the history of
the corridor, development along the roadways in neighbouring municipalities,
the economic impact to those communities, as well as current and projected
growth and investment trends in the region.
The report’s authors, Sergio E. Pompilii & Assoc. Ltd., provided a detailed
analysis of the job creation numbers, increased population and economic base
that could be achieved when the Urban Growth Boundary is adjusted east to
the city limits, to include the 401 east corridor. The report indicated that
opening this corridor will put London on an even playing field with the
Kitchener/Waterloo region and communities further east and west. Investors
looking for a building site and connection to the NAFTA highway will be able
to put London at the top of their potential site list.
Mayor Fontana encouraged business and labour leaders to review the report in
detail. He said, “The information and analysis provided in the report points
us in the right direction. If the city’s priority is jobs and growth, then
we need to really be open for business and encouraging the public/private
partnerships that can get shovels in the ground and people working.” The
Mayor said Londoners must look closely at what has been accomplished in
other centres and how growth patterns evolved and impacted those urban
“We have to face the fact that the trip to the GTA is getting shorter
every year because building and growth is moving our way; major expansion is
following the roadway to the west and the east. London must manage that
growth and development so it benefits the city and our quality of life”.
Justin Pompilii presented key points from the report. He said, “The
establishment of the 401 east corridor is a long-term commitment. It
represents a significant opportunity that occurs in the development of a
municipality of London’s size every 40 to 50 years. It will kick-start and
pave the way for strategic and sustained economic growth. The 401 east
corridor is a diamond in the rough that should now be utilized to compete
with the Kitchener/Waterloo Region and fully interact with the Toronto-Centred
The document will go to Council and a copy of the
complete report can be
accessed using the link.