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
