By: Richard Koroscil, president

In an economic downturn, it feels good to produce reports of direct economic impact that benefit a supportive community and a dynamic industry. It’s difficult to grasp the enormity of success on its own, but comparing how HI has grown since it became a Public-Private Partnership indicates that privatization was a necessary move to enhance the services within HI, and ultimately for the Hamilton community.

As Canada’s leading courier and cargo airport, and a growing passenger airport, HI continues to strive for excellence by continually developing on-site facilities and expanding services to meet our passengers and business partner’s needs. We know this was successful because we have been able to contribute directly to the economic benefit of the City of Hamilton.

By way of significant investments by tenants and partners, the combined $162 million has, in turn, derived approximately $185.1 million in direct economic benefit to the City of Hamilton since privatization as TradePort in 1996. This, through property taxes ($8.5 million), eliminating the direct operating deficit ($7 million), eliminating city absorbed costs ($7.0 million), cashflow improvements ($22.5 million), and revenue sharing ($0.6 million), has poised HI for future growth in airport investments, passenger and cargo traffic, and revenue.

We set out to make improvements that would benefit the Airport and the community, we fully disclose our audited financial statements, and we encourage visitors to our website to gain insight into our operations and goals for Hamilton’s Airport. TradePort is fully committed to the City of Hamilton and its residents, and confidently looks forward to continued success.