Businesses at Buttonville Airport in the GTA will be looking for new accommodations very soon as it was announced that the Toronto area airport will be closing within 5 years. The City of Barrie and surrounding regions could benefit from the closure given the availability of prime lands on and beside the Lake Simcoe Regional Airport just north of Barrie in Oro-Medonte.
No doubt Barrie and the LSRA will be courting businesses and touting the almost completed expansion at the local airport including runway extension, additional taxiways and expansion of the terminal building.
The Barrie Examiner quotes Michael Prowse, Barrie Councillor and President of the Lake Simcoe Regional Airport, saying,
“This is a golden opportunity to explore new business opportunities that will create high paying jobs in the aerospace and aviation operations industries for the communities of Barrie and Oro-Medonte (Township) … The Lake Simcoe Regional Airport has long been an underutilized magnet which has the potential to attract employers and higher paying jobs to our area.
The LSRA has plans for controlled growth and we believe we can offer a unique business hub and destination.” ( Click Here for full Article )
Real Estate investors are always looking for key economic and transportation indicators as they evaluate areas for investment. The LSRA airport expansion and the potential for solid high paying jobs moving in from Buttonville is a bright spot for investors in the Barrie and Orillia regions.
It should be noted by way of disclosure that I was a Commissioner in recent years at the LSRA and that as a Commercial Realtor in the area I have a vested interest in the growth of the LSRA.
