As the fastest growing urban metropolitan region and tech hub in North America, we are committed to continuing that pace of growth and investment – not only to get back to where we were before the pandemic, but to go beyond what we have achieved already.
We at Toronto Global are committed to helping businesses succeed and helping Canada build back stronger than ever.
I have been in the business of attracting FDI for over 20 years and have successfully brought some big players into Canada. Three months into my new role as CEO of Toronto Global, I am excited to bring my learnings to one of the greatest cities in the world.
Despite the worldwide COVID-19 crisis, I am deeply optimistic about the Toronto Region’s future and confident that investor interest in the region remains incredibly strong. Between April and July 2020, nearly $700 million was invested in the Toronto Region by foreign-owned businesses – an even larger amount than the same period in 2019.
Canada is one of the best countries to expand your business
I see a few reasons for the Toronto Region’s strong FDI performance, but the simple explanation is that Canada will always remain an attractive country for business expansion, and the Toronto Region satisfies everything companies look for when considering an expansion: skill, scale, and cost.
Can I get good people, enough of them, and at a reasonable cost? This is as true post-pandemic as it was before the crisis began.
The Toronto Region is the economic engine of both Ontario and Canada, and a critical driver of the North American economy. We are home to:
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- A region of 7 million people, projected to reach 10 million by 2041.
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- Over 620,000 people with a STEM degree and many of Canada’s most internationally respected universities and colleges.
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- A globally connected business community – our trade agreements give businesses access to 1.5 billion consumers and a combined GDP of nearly $50 trillion USD; Canada is the only country in the world that has a free trade relationship with every G7 nation.
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- A diverse population and industry base that is unrivalled almost anywhere: here you can design, test, and build just about anything, for any market, with a myriad of forward-looking partners.
Coming out of the pandemic investment ready
The Toronto Region has a major role to play in leading this country out of the economic downturn, and Toronto Global is uniquely positioned to lead that charge, working closely with our municipal partners across the region and the provincial and federal governments. Partnering with the Toronto Region Board of Trade on its economic playbook, Shaping Our Future, three areas we identified for critical investment are transportation, broadband and housing.
As governments and city-builders design recovery strategies, it is essential these plans are approached with a regional lens. Anything but, and we risk further fracturing an economy that, at its core, thrives on networks of shared talent and resources.
The Toronto Region fits all the criteria global businesses look for. Seventy percent of Fortune 500 headquarters are located in metro regions that rank in the top 25 percent for talent, as measured by the share of the population that holds a bachelor’s degree or higher. Ninety percent are located in metros with populations of 1.3 million or more and have international airports offering global connectivity between talent hubs across the world. The Toronto Region has all of this, and we are fortunate enough that these advantages aren’t going anywhere.
Building on our track record as one of the top business friendly countries
The Toronto Region is thriving, inclusive, and progressive. We have the talent businesses need in a uniquely diverse society. My job is about seizing this moment and leveraging our strengths to make this the best region for international investment. I look forward to working with you all as we rebuild to make our region even better.
Oh, and if you are looking for something fun to do over the holidays, check out the hottest AAA game release of the year: Cyberpunk 2077. Toronto animation studio, JALI Research Inc., developed the 3-D facial animation used in the game, which features a special appearance from our fellow Canadian, Keanu Reeves. JALI’s groundbreaking work is just one example of how we are leading the way with new age digital media companies leveraging our dynamic tech, entertainment, and interactive industries.
Happy holidays, and here’s to bigger and better in 2021!