TORONTO – The Ontario Public Transit Association (OPTA) and the Canadian Urban Transit Association (CUTA) commend the government of Ontario for its plan to invest $3B in creating the Ontario Infrastructure Bank, an initiative aimed at advancing major projects in transportation, affordable housing and healthcare. The focus on infrastructure investment is a positive step toward strengthening public transit networks and enhancing quality of life for Ontarians.

“The creation of the Ontario Infrastructure Bank is a positive development for transit agencies and commuters alike,” said OPTA Chair, Tony D’Alessandro. “Municipal transit agencies are deeply appreciative of the government’s recognition of the pressing requirement for fleet renewal, particularly as nearly a quarter of buses across the province are approaching the end of their operational lives. We look forward to our active involvement in upcoming consultations.”

The announcement comes at a time when Ontario transit agencies have been struggling to fund new capital projects. The previous federal-provincial infrastructure program (Investing in Canada Infrastructure Program) ended in March 2023, and the new Federal Permanent Public Transit Fund is scheduled to come online in 2026, leaving a significant infrastructure funding gap.

Transit ridership has been steadily increasing, with most Ontario transit agencies reporting ridership at or exceeding 2019 levels. This is in part fueled by rapid population growth. Over forty per cent of the 500,000 new Canadians arriving each year choose to settle in Ontario.

“The Ontario Infrastructure Bank offers a forward-thinking approach to financing urgently needed growth in housing and public transit,” said CUTA Chair, Kelly Paleczny. “As Ontario’s population grows at a record pace, municipalities now have access to new financing options to advance transit-oriented communities. We look forward to working with the government to enhance quality of life and mobility for all residents.”

Investing in infrastructure, particularly in the transportation sector, is essential for reducing congestion, addressing environmental concerns, and promoting economic growth. The bank’s intent to attract private investments from institutions like pensions and insurance funds underscores the government’s dedication to leveraging public funds to entice additional capital.

OPTA and CUTA are eager to collaborate with the government of Ontario and other stakeholders to ensure that transportation projects are developed efficiently, sustainably, and with an emphasis on accessibility for all residents.

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Media Contact:
Jon MacMull
Director, Communications and Public Affairs
Canadian Urban Transit Association (CUTA)
416-684-9808
[email protected]