In a recent column, I wrote about the importance of expanded local GO train service. Over the past month, lobbying efforts from municipal governments, businesses and post-secondary institutions have intensified as the 2019 Ontario budget approaches.

The Toronto-Waterloo Innovation Corridor's impact on the national economy is immense; however, we are held back from reaching our full potential due to years of delay from previous governments in constructing the necessary infrastructure to increase the productivity of this vital economic hub. These delays continue to impact our province's overall productivity, ability to create jobs and capacity to build world-leading innovation industries right here in our province.

The current asks of the Ontario government in their soon-to-be-released 2019 Budget include Kitchener-Union Station rail service every 30 minutes throughout the day, 60-minute trip times between Union Station and Waterloo Region, zero-carbon electrified trains and a direct connection to Toronto Pearson Airport.

While the ask is a significant investment, connecting the Toronto-Waterloo Innovation Corridor through fast and frequent rail links is a historic opportunity — there is simply no other investment the provincial government can make that will have the same direct impact on the economy, job creation and improving Canada's lagging productivity levels.

Consulting firm McKinsey estimates that linking the Toronto-Waterloo Innovation Corridor through fast and frequent rail service has the potential to deliver a $50-billion increase in direct equity value, $17.5 billion in direct annual GDP and more than 170,000 high-quality jobs by 2025.

In addition to the strong economic case for passenger rail service within the corridor, we know that better connections would produce significant cost savings for people and the province.

The Toronto Region Board of Trade estimates that congestion and delays along the corridor costs Canadian businesses and consumers between $500 million and $650 million per year in higher prices for goods. On average, congestion costs each household an extra $125 annually in higher prices for the things they buy.

Our productivity and competitiveness rely on the province making a significant investment in improving transit within the strategically important Toronto-Waterloo Innovation Corridor. Right now, there are many words and assurances being given, but there is no transparent plan to get there nor a budget assigned to the project. This must change, and it must change quickly if we are to swiftly and effectively close our productivity gap. The 2019 Ontario budget would be a good place to start.

Ian McLean is president and CEO of the Greater Kitchener-Waterloo Chamber of Commerce.

