Canadian Prime Minister Mark Carney stated that Canada will not share toll revenues from the new $4.7 billion bridge with the U.S. until its initial investment is recouped.
During a press briefing on Thursday, Carney explained, “Any sharing of the toll revenue won’t happen until all of the debt is repaid.” He further stated that after the debt is cleared, Canada intends to split net revenues with the U.S. for the first 15 years, after accounting for operational costs such as maintenance and snow removal.
Canada’s decision to retain all toll profits from the Gordie Howe Bridge connecting Windsor, Ontario, and Detroit, Michigan, aligns with the original agreement with Michigan, established in 2012.
Carney also noted that the net revenue for the initial years is expected to be negative to modest, after accounting for the operational costs. Once the revenue sharing begins, all U.S. portions will be reinvested in economic development.
The bridge is set to open on 27 July.
