Thank you, MP Badawey.
We are certainly pleased to be serving the communities of Hamilton, Oshawa and Niagara. Over the past couple of years, we have brought those communities and the assets in them together as a port network so that we can provide innovative service and better allocate the infrastructure, the transportation and trade infrastructure throughout the greater Golden Horseshoe in response to the needs of this very unique part of the country, the manufacturing heartland and a rapidly growing population centre.
You spoke about manufacturing. One of the things that manufacturers in southern Ontario need most is space to grow. As the population expands and there is much more pressure on the land base in southern Ontario, Ontario has an acute shortage of multimodal-served industrial spaces of the kind that we operate. What we are hoping to do, and what we're doing in Niagara, and what we're doing in Oshawa and Hamilton, is bring underutilized spaces back into more intensive operation as part of the transportation network. We'd like to see more opportunities, whether lands be part of the federal portfolio or whether lands be other available spaces, to put those lands to work as part of the industrial strategy that others around this table have spoken about.
You spoke about investments. The capital program that HOPA has been operating on is approximately $30 million per year, but we have quite an intense demand from businesses that would like to locate and operate and grow at Canada's ports. I spoke about the excellent impacts of the national trade corridors fund in my opening remarks, and the leveraged investment that we've been able to deliver through them, but we have more projects coming to us than we can deliver on within the boundaries of our borrowing capacity. That's the kind of thing we would like to see addressed within the ports modernization review, giving ports a little bit more of a market and entrepreneurial approach to tackling some of those projects, and looking to the market to help finance them.
You were asking about smart ports. Using data and information to help us understand and make the best cargo decisions within our port network is something that we have been working on with several of our partners, including Transport Canada. We're also looking at the opportunity to reinvent ports as green energy hubs. I think that's a real opportunity in our space in Niagara. It's why we and our port partners have requested access to the dedicated innovation funds and that kind of thing, which can help us look to make ports the hydrogen hubs and that sort of thing that we have seen in other parts of the world.