Gridlock on GTA highways is costing $125 per household per year, according a new report from the Toronto Region Board of Trade.The study area included the Toronto, Waterloo, Hamilton, Oshawa and Guelph Census Metropolitan Areas (CMAs).“Congestions remains the Toronto-Waterloo Corridor’s most pressing economic and lifestyle challenge, but it’s also costing our businesses and residents millions each year in higher prices,” according to the board, which is scheduled to release the report Monday morning.One million tonnes — $3 billion worth of goods — are trucked through the region every day, but gridlock is slowing down deliveries, resulting in expensive fixes, the costs of which are being passed on to consumers.Raw materials like steel and produce aren’t arriving in time at manufacturers, and manufactured goods aren’t getting to ports, airports and rail terminals in time. Goods can’t reliably be moved into the U.S. or abroad, which affects trade with other countries, according to the report.Moving goods across the so-called last-mile, is increasingly problematic and the lack of unloading areas in the city — particularly around the King and Bay Streets area — drives up the cost of parking tickets for couriers and trucking companies, according to the report. “Auto and auto parts manufacturers, medical device manufacturers and logistics firms – they all tell us that an inability to move their goods to market or receive products from suppliers in a timely fashion makes their businesses less competitive,” said Jan De Silva, president and chief executive officer, Toronto Region Board of Trade.“For example, a vehicle’s components can cross the border up to seven times before it is complete. We can’t have auto parts stuck in traffic on our region’s highways if we are going to be part of this internationally significant supply chain.”The Toronto-Waterloo corrid ...
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