By Gazette Staff
October 30th, 2025
BURLINGTON, ON
In a media release, we were told that: “As a majority Canadian-owned company, Highway 407 ETR is more than a toll road — it’s a vital economic corridor for Ontario.
“Majority owned” caught our eye. Our understanding was that the toll road was owned by foreign interests. Turns out that is not the case.
Ownership is split three ways:
407 International Inc. is the sole shareholder of 407 ETR and is owned by:
- Cintra Global S.E. which is a wholly owned subsidiary of Ferrovial S.A. (48.29%);
- Canada Pension Plan Investment Board (CPP Investments) and other institutional investors (44.20%); and
- Public Sector Pension Investment Board (PSP Investments) (7.51%)
A new report by global infrastructure consultancy Steer finds that Highway 407 ETR delivers up to $1.2 billion in annual socioeconomic benefits, including time savings, enhanced safety and greater productivity.
The report quantifies the time savings as $990 million in value for the region. For a five-day-a-week commuter, a round trip on Highway 407 ETR can save up to two hours which adds up to as much as 480 hours annually. That’s the equivalent of 20 days’ worth of time.
“Transportation infrastructure is often justified by its promise to drive economic growth and improve quality of life — but too rarely do we measure whether those benefits are truly realized,” says Patrick Miller, Vice President, Steer. “Our independent analysis identified nearly $2 in economic value across the Greater Toronto Area’s economy for every 1 spent on Highway 407 ETR. The report highlights a clear ongoing benefit to commuters, businesses and communities in the region.”
The report, commissioned by 407 ETR, also highlights the highway’s $490 million annual economic output, driven by spending on operations, maintenance and infrastructure. This supports 1,800 jobs and generates $140 million in wages across Ontario and Canada.
“We’ve always known Highway 407 ETR makes life easier for drivers — but this report shows just how far that impact goes,” says Jose Espinosa, President & CEO, 407 ETR. “As a majority Canadian-owned company, we’re proud to support 1,800 jobs in Canada — including our workforce of 550 employees right here in the GTA. 407 ETR contributes nearly half a billion dollars in economic output each year.”
A five-day-a-week commuter making a round trip on Highway 407 ETR saves up to two hours a day or as much as 480 hours a year.
A smarter, safer and very expensive way to travel
That is ironic that pension funds have been giving 407 money.
Yet people on pension can not afford the highway, we are stranded on QEW or 401. All of us on pension should get a deal.
This 407 is a great highway idea but most of us can not afford it.
Editor’s note: The dividends the Canada Pension Plan eventually work their way into you pocket. What’s your problem?
Has a study been done to see what the overall saving to the Province would be if a free 407 relieved the congestion on the 401? The 407 is s cash grab and now the province is talking about an absurd tunnel under the 401.
You pay/bribw the right people. We can’t even look at the contract.
The most Expensive toll roads. Germany, no toll roads Dundas to 404 cost half days wages for a round trip with my car about does truckers we have to pay out of their pockets what about the person that works for minimum wage? How can they afford to write the 407? It is about time to start thinking about the little guy. Thank you
How do they calculate an up to 2 hours a day time savings? What is the average commute distance and time on the 407, and what are the comparable aberage distances and times on alternative routes? How does a person save up to an hour each way when average commutes in the GTHA are less than an hour?
How does this 2 hours a day translate to $990 million value to the region? What percentage of this times is attributed to work hours, and how much is commute time outside work hours, which has no business value, only personal?
Who benefits from this time savings? What percentage of all GTHA commuters use the 407? What income brackets can afford to commute 5 days a week at peak billing hours?
This article reads like a marketing piece for the 407 ETR, not critical reporting on a recent report commissioned by the 407 ETR.
We need to build free collector lanes along 407 and over time squeeze this company out of the 407
The pension funds have been buying shares of 407 for years.