| Work Detail |
The City of Hamilton and TradePort International Corporation have finalized a $400-million agreement to further develop and expand John C. Munro Hamilton International Airport over a 49-year term.
The deal secures significant investment from TradePort, a wholly owned subsidiary of Vantage Group, a global airport development and transportation infrastructure leader.
“This investment marks a significant milestone in Hamilton’s future. Our airport is a vital transportation hub and a key driver of our community’s economic growth and job creation. This $400 million commitment from TradePort and Vantage will enhance Hamilton’s global competitiveness while ensuring sustainability and long-term prosperity. We are excited to partner on a project that will benefit residents, businesses, and the broader region for decades to come,” said Mayor Andrea Horwath.
The investment aims to transform the Airport’s infrastructure, including expanding and enhancing passenger terminal buildings, upgrading cargo facilities, enhancing taxiways and aprons, and achieving Net Zero Carbon by 2030. The investment is designed to continue positioning Hamilton as a competitive player in the national and global markets while supporting the region’s supply chain and job creation.
“This agreement is the result of dedicated collaboration between City staff and our partners at TradePort and Vantage Group. Our team has worked diligently to ensure that this agreement meets Hamilton’s current needs and positions us for long-term success,” said City Manager Marnie Cluckie. “By working closely with our partners, we’ve secured an investment that will bring lasting economic benefits to our community, enhance our airport’s infrastructure, and support a sustainable, thriving future for Hamilton.”
As part of the agreement, and in addition to the $400 million investment, the City of Hamilton will receive guaranteed annual payments, increased revenue sharing based on the Airport’s performance, and commitments to annual community investments.
“TradePort’s investment in Hamilton International is great for Hamilton. We are more than just an airport – we are a jobs creator and strong economic contributor,” said Ron Foxcroft, Board Chair, TradePort. “Together, we can strengthen our economic position and inject millions into our local community by investing in our airport infrastructure today. Thanks to our collaborative partnerships with the City of Hamilton, Mayor Andrea Horwath, City Council, and staff, this agreement stands to evolve our city’s airport into the future with ambitious deliverables by 2073.”
“In Hamilton and across Vantage Group’s network, our airports are proven and thriving economic engines for local and national economies. This significant $400 million investment will position us to accommodate and expand passenger and cargo service, deliver safe, efficient cost-effective operations, enhance the customer experience with innovative solutions and technology, and operate sustainably,” said Cathie Puckering, Vice President & Head, Canadian Network, Vantage Group. “We are ready to deliver this exciting plan for the Airport and our city in partnership with the City of Hamilton and all stakeholders.”
TradePort has managed Hamilton International Airport since 1996, facilitating $452 million in investments, contributing more than $1.5 billion in industry activity, and creating more than 4,720 jobs. The new $400 million commitment will further drive local economic development and investment in Hamilton. |
