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This is a Comeback Story: Toronto Global is Championing the Toronto Region’s Economic Recovery
Toronto, September 10, 2021
: Toronto Global is proud to present its
2020/2021 Annual Report: This is a Comeback Story
. The report highlights the organization’s remarkable metrics, from our inception in 2017 to the end of our fiscal year on March 31, 2021; including facilitating 131 investment projects, creating more than 7,200 direct jobs, and an investment of $1.27 billion in capital expenditure throughout the Toronto Region. To date, these numbers have risen to 150 new investments made in the Toronto Region, representing over 8,575 new jobs and $1.6 billion in capital expenditures. The region is the economic engine of both Ontario and Canada and a critical driver of the North American economy. There has never been a better time to invest in the Toronto Region and we’re coming back stronger than ever.
Not only have our investment figures performed beyond our expectations, taking into consideration a global pandemic, but our investments have also proven to be of high quality, creating highly-skilled, well-paying jobs for our talented workforce. Every job created and every dollar invested sets off a domino effect, creating more jobs in the local market and significantly boosting the Ontario and Canadian economies. Since inception in 2017 to March 31, 2021, the spin off effect of Toronto Global’s work has led to the creation of over 13,000 jobs and a $1.69 billion GDP impact to the Canadian economy.
“This annual report is the story of a region that will not rest until it's back on top. The Toronto Region’s comeback is driven by our team at Toronto Global, along with our partners throughout the region, province and country, as well all collaborate to reimagine how to emerge stronger. We’re working toward making the Toronto Region the top destination for investment in North America, and I’m proud to be leading a team at Toronto Global that always strives toward bigger and better,” said Stephen Lund, Chief Executive Officer.
An important trend to note is the increasing distribution of investments and jobs across the entire region. Last year, 44 per cent of jobs created by new investments in the region were located outside the City of Toronto. This is an important indicator showcasing the strength, not only of the regional value proposition but to our collaborative approach for attracting international investment. With access to the most educated and diverse labour pool in the OECD, enabling employers to tap into a rich multicultural and multilingual workforce, the Toronto Region offers organizations a future-proofed talent pipeline equipped to transform their businesses.
This report also highlights Toronto Global’s key investments, spread across various up-and-coming sectors, from advanced manufacturing to life sciences to financial services. Our clients include Babylon Health, a U.K.-based health service provider that enables remote consultations with doctors and health care professionals; HCL Technologies, an Indian multinational IT company employing up to 500 people in the region; and Cerebras, an artificial intelligence company from Silicon Valley seeking to establish an AI Centre of Excellence in Toronto, with plans to triple its engineering team in the coming year.
The deeper story behind these metrics and wins is that investor interest in the Toronto Region remains incredibly strong, and there is reason to be optimistic for the future of our economy – not only to recover, but to come back stronger than ever.
“Looking forward, as the tailwinds of the global pandemic continue, our goal remains the same: supporting our partners, funders, and residents of the Toronto Region by attracting economic investment that helps our economy grow and ensuring that Toronto Global leads the charge in our region’s recovery,” said Mark Cohon, Chair, Toronto Global Board of Directors.
About Toronto Global
Toronto Global’s team of experienced business advisors works to help international companies access the most dynamic and innovative region in the world. We actively seek global companies interested in expanding to the Toronto Region and connect investors with the right opportunities that will facilitate the successful growth of their business.
As an arms-length organization representing the Cities of Mississauga, Brampton and Toronto, and the Regional Municipalities of Durham, York, and Halton, we work with our partners in the Ontario and Canadian governments to provide a comprehensive, customized service that allows for a smooth transition for international companies wishing to do business here. Toronto Global is dedicated to understanding our clients’ business needs and delivering tailored, innovative solutions that will set the stage for their success in the Toronto Region.
Senior Communications Specialist