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The Best Investment Choice
Toronto, an
international centre for commerce, research and innovation, is a thriving
gateway to the globe’s most lucrative markets. Value, talent and
infrastructure combine with a cosmopolitan atmosphere to create the unique
Toronto experience.
Toronto
is North America’s top-rated economy by La Salle Investment Management’s
2005 North American Regional Economic Growth Index. Toronto’s diverse
economy, characterized by 10 key employment sectors, ensures economic
resilience.
The
competitive cost of doing business, an excellent return on investment, and a
growing, highly educated labour force make Toronto the best choice for
investment.
Business Gateway to the World
Toronto is a
preferred business gateway to the United States and Europe.
Fifty per cent of the
U.S. population is within a one-day drive. And the city’s
population of
2.6 million is one of the continent’s largest and most prosperous consumer
and commercial markets.
Fast and efficient
trucking, railways, waterways and air services link Toronto to the world.
Toronto’s Pearson International Airport provides flights to over 300
destinations in 54 countries through 64 carriers,
handles 30
million passengers and is capable of processing 1 million metric tonnes of
cargo annually.
China,
Germany, Great Britain, India, the United States and 87 other countries,
maintain consular offices in Toronto. Dozens of international trade
commissions promote and facilitate global business.
Toronto is home to over 90% of the world’s international
banks operating in Canada, 85% of the world’s mutual fund companies, and
half of Canada’s venture capital firms are located here.
Economic Powerhouse
The City of Toronto is in the heart of the Toronto
Region’s 5.4 million people. In North America it ranks alongside economic
powerhouses such as Chicago and New York. The value of all goods and
services produced in Toronto in 2005 was $127 billion with GDP output growth
forecasted to increase at a rate of 3.7% annually from 2007 to 2010. |
Value
Business costs in Toronto are lower than most U.S. centres
and key competitors with the biggest savings on skilled labour and
industries doing R&D.
Based on an exchange rate of US$1.17, Canada is ranked the
most economical G-7 nation by the Competitive Alternatives, a comprehensive,
international survey conducted by KPMG in 2006 with costs lower than other
major industrialized countries, namely: the U.S., U.K., France, Germany,
Italy and Japan.
Toronto finished ahead of all large U.S. cities surveyed
in 7 of the 17 business operations analyzed, ranking first in cost
competitiveness against global cities such as Amsterdam, Frankfurt, London,
and Yokohama. Ten-year average annual operating costs in Toronto are from 3%
to 26% more cost-effective than U.S. cities of similar size and stature
including Boston, Chicago, Dallas, Detroit, New York and San Jose.
Labour costs are the largest single contributor to
Toronto’s cost advantage. Of the G7 countries, Canada had the lowest total
labour costs ranging from a 3% average per employee cost advantage over
Italy to an 11% advantage over the United States.
2007 Top Investment Opportunity
Toronto’s ambitious waterfront revitalization initiative
is one of the largest urban development projects currently underway in North
America making this area one of the city’s most dynamic investment
opportunities.
The estimated $17bn investment over the 30-year build out
will help to create up to one million square metres of employment space,
40,000 residential units and 400 hectares of parks and public spaces.
The first development site is 22 hectares, approximately the same size as
London's Canary Wharf and New York's Battery Park City, and is within
walking distance of the city centre. When complete
it will provide 60,000 square metres of office and retail space, develop
five hectares of parks and public spaces, including a 1.5 kilometre
water's-edge promenade and create 8,000 jobs. |
Economic
Mixture Sustains Growth
The city’s multi-sectoral business base together with
expansive business networks ensures sustained growth through changing times.
Leading sectors include:
- Business and Professional Services – among the largest
in North America and growing faster than sectors in New York, Los Angeles,
Philadelphia, Boston and Washington at an annual rate of 6%.
- Financial Services - More than 205,000 highly skilled
employees make Toronto’s financial services sector the third-largest in
North America after New York and Chicago.
- Food and Beverage - Toronto’s food cluster is largest
in Canada and a North American leader. The largest operations, with annual
sales in excess of $50 million, are mainly multi-national subsidiaries,
serving the markets beyond the boundaries of Toronto and the province.
- Information and Communication Technology (ICT) - Annual
sales for Toronto’s ICT cluster amount to over $32.5 billion, with $6.2
billion in annual exports. Over 300 foreign companies have subsidiary
operations in the Toronto region.
- Medical and Biotech - Toronto’s medical and biotech
cluster is a world-leader in genomics, proteomics and bioinformatics
research. More than $1 billion of research is conducted annually within
Toronto’s Discovery District and facilities such as MaRS. This incubator
brings together science, business and capital resources to encourage
innovation and rapid commercialization.
Highly Educated Workforce
The city’s
post-secondary educational facilities include three universities and five
colleges offering multi-faceted training to 185,000 full-time students.
International Baccalaureate Organization (IBO) programs are offered at
several Toronto educational institutions. Excellent programs in engineering,
computer sciences and multi-media attract more than 10,000 international
students each year.
With 58 per
cent of the work force attaining post-secondary education, Toronto’s 1.4
million-strong labour force outpaces comparable U.S. cities. Workforces of
New York, Chicago and Washington have post-secondary education rates of 28%,
33% and 43% respectively.
People are our Strength
Diversity
of race, religion and lifestyle help define Toronto. Toronto is a
city-region with an excellent overall ranking across the categories of
diversity, creativity, technology and talent when compared with other
cities.
Immigrants are encouraged to celebrate and share their ethnic
traditions. A high percentage of the population is multilingual regularly
speaking Italian, Mandarin, Cantonese, Portuguese, and Punjabi among other
languages, creating a versatile employment base with the ability to
communicate and network with international partners.
Winning Lifestyle
Torontonians
pride themselves on their tolerance and quality of life which thrives on
clean, safe streets, superb recreation and entertainment venues, and vibrant
cultural life.
A geographical mosaic of
international neighbourhoods illustrates Toronto’s status as one of the
world’s most multicultural cities, making it an easy place to attract
talented minds from other countries. Great public transit, reasonable cost
of living and major league sports and entertainment options also make this
city an attractive place to live, work and invest. |
