Today, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Ministry of Economic Development and Growth, the Cities of Toronto, Mississauga, and Brampton, and the regional municipalities of Halton, York and Durham announced the launch of Toronto Global, an investment attraction agency dedicated to showcasing and leveraging the unique, multi-sector strengths of the Toronto Region to drive Foreign Direct Investment (FDI) and growth. As part of today’s announcement, all three levels of government committed $19.5 million in funding over three years to enhance the business attractiveness of the Toronto Region when competing against other major global cities like New York, London, San Francisco, Singapore and Shanghai.
“Toronto Global is the product of a shared vision – to create an engine of growth for the Toronto Region,” said Mark Cohon, Chair of the Board of Toronto Global. “It’s time to put our modesty aside and proudly show the world what we all know to be true – the TorontoRegion is one of the best places to live and work.”
Toronto Global’s team of experienced business advisors will promote the business value proposition of the entire Toronto Region to international investors under one umbrella, one brand, and one unified message. Their work will promote the region’s strong, stable and diverse economy to attract FDI in targeted industries, as well as ensure a smooth transition for international companies wishing to do business in the region. Importantly, the agency will provide the Toronto Region with the capacity and capabilities required to continue competing as a world-class city.
“Our region’s strengths are starting to be known around the world. The time is now to build on that momentum by investing in the people and tools needed to highlight all that we have to offer to international investors,” said Toby Lennox, CEO of Toronto Global. “Toronto Global is pulling together the right team and networks to expand our global reach.”
In partnership with the governments of Canada and Ontario, the Cities of Toronto, Mississauga, and Brampton, the regional municipalities of Halton, York and Durham, and with the support and active participation of the region’s thriving and growing business community, Toronto Global will work to make the Toronto Region the most attractive destination in the world for business investment.
Toronto Global is an arms-length not-for-profit corporation representing municipalities in the Toronto Region. Its mandate is to market the entire region to international investors by promoting the Toronto Region’s diversity of services, sectors and industries, diverse and innovative workforce and strong and stable economy to attract FDI from targeted industries around the world. Toronto Global’s work will build upon the federal and provincial government’s commitment to growing Canada’s innovation and knowledge-based economies by driving targeted, region-wide economic growth to generate quality skills, jobs and opportunities for Canadians.
Toronto Global’s team of experts will provide a comprehensive, customized service to ensure a smooth transition for international companies wishing to do business in the Toronto Region. Toronto Global will make investing in the region simpler by actively researching and targeting growth sectors such as advanced manufacturing, life sciences, financial services, technology and food and beverage with a goal of bringing companies to the region to generate economic growth and create high value jobs.
The Toronto Region is the economic engine of Canada, generating 20 percent of the country’s GDP and housing 40 percent of Canada’s business headquarters. The region is a major player on the international stage, attracting business investment from all over the world. There has never been a better time to come together to build on this momentum and to bolster the region’s stellar global reputation as a safe, stable and profitable place to invest.
The region is the most multicultural in the world and home to the most skilled and highly educated workforce among countries of the Organization for Economic Co-operation and Development (OECD). With our strong and diverse economy, competitive business costs, exceptional talent pool, strategic location and unmatched quality of life, the municipalities that make up the Toronto Region present a global business offering that is second to none. Each municipality within the Toronto Region is world renowned for its distinctive strengths in sectors that matter to global business leaders.