CABR is a multi dimensional project with large and diverse economic benefits.
Government of Alberta (and all Albertan taxpayers) receive direct monetary benefits in the form of increased tax revenues from the CABR project itself and the increased economic activity generated by the project. These additional tax revenues greatly exceed the maximum $30 million pa performance payments requested from the Province meaning that the net fiscal cost is zero and the project returns a multiple of investment.
City of Calgary
The most direct quantifiable benefit of CABR for City of Calgary is an extra $1.3 billion of tourism spending (Calgary Economic Development) in Calgary from Banff visitors who without the train would bypass the City entirely.
In addition CABR would attract significant additional visitors to the downtown and the Rivers District and support downtown revitalization for residential, commercial and leisure activities. These economic benefits would be huge.
Calgary International Airport Authority (YYC)
YYC would benefit from additional services and passengers destined for Banff and other business and leisure destinations in Calgary and Southern Alberta. Major airlines supporting the project, including Air Canada and Westjet, are keen to be able to market tickets directly to Banff using CABR for the final leg of the journey.
Employees of YYC and other airport employers would accrue significant benefits from reduced travel time and costs to access their work. YYC would be able to free up significant land currently used for employee parking and grow other commercial activities on airport lands, In the same way as the Canada Line acted as the catalyst for commercial use of airport lands, CABR will open up huge opportunities at YYC and in the vicinity.
Banff, Kananaskis and the Bow Valley Communities
The Bow Valley will receive significant economic benefits from increased tourism activity and reduced congestion. The Economic Impact Assessment estimates that CABR will generate over 22,500 new long term jobs, many of which will be in the Bow Valley.
Communities will benefit from improved labour mobility, opening up employment opportunities in Banff or Calgary which would not otherwise have been accessible. This in turn will mitigate the workforce challenges of communities such as Banff. This will also have a significant impact on mitigating regional economic disparities including access to commercial services and healthcare.
Southern Alberta Commuters and Leisure Travellers
Some of the largest economic benefits will be enjoyed by the riders using CABR (80% of whom will be making trips within City of Calgary). These benefits will be seen in reduced travel times, lower travel costs and greater accessibility of leisure and commercial activities.