Ontario Premier Doug Ford has confirmed the province plans to expropriate land from the City of Toronto at Billy Bishop Airport.

The premier aims to move ahead with a potential runway expansion that could allow jets to operate at the island airport located offshore from the downtown area.

Ford told reporters that the province intends to compensate the city for both the value of the land and any lost revenue from the airport, which could reach about $5 million annually, according to The Globe and Mail. The move would effectively remove Toronto from the tripartite agreement that currently governs the airport and prohibits jet aircraft operations.

Speaking to reporters at Queen’s Park, Ford said the expansion would strengthen the region’s transportation infrastructure and economic competitiveness.

“This is a crown jewel,” he said. “We’re one of the largest cities in North America. Other cities like New York and Chicago have two airports. And this is an economic driver. It’s going to create competition.

He noted that Billy Bishop is more convenient for many travellers than the suburban Toronto Pearson International Airport located in Mississauga, Ont.

Billy Bishop currently handles about 2.8 million passengers annually and is served by turboprop aircraft from Air Canada and Porter Airlines. A previous push by Porter in 2013 to introduce jets at the airport failed after opposition from city council and waterfront residents.

A senior provincial government source told the Globe that Ontario is aiming to replace Toronto in the airport’s governing agreement within months and believes upgrades and expansion could occur as early as 2030.

Toronto Mayor Olivia Chow has long opposed the introduction of jets at the waterfront airport. Her office said the city has not received a formal proposal.

“The mayor will continue to insist that the provincial and federal governments work with the city and make sure Toronto is at the table when big decisions are made about our waterfront,” spokesperson Shirven Rezvany told the Globe via email.

Pictured: Billy Bishop Airport

Photo: Ports Toronto