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The Toronto Region is ranked as one of the world's most successful economies. The region generates more than 20 per cent of Canada's GDP and is home to over 40 per cent of the country's head offices. Some comparable regions have larger R&D clusters in specific areas, but the Toronto Region has the combined power of clusters in several strategic fields.
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ADVANCED ECONOMY
April 2010 © Toronto Region Research Alliance
THE TORONTO REGION IS …
• A world-leading economic region:
• Ranked #1 for the soundness of its banking system by World Economic Forum (GlobalCompetitiveness Report 2008-2009)
• Ranked #3 financial centre in North America by Global Financial Centres Index 7 (2010)
• Ranked #3 in North America by MasterCard’s Worldwide Centres of Commerce (2008)
• Ranked #10 of the World’s Top Global Cities (Global Cities Index (2008)
• Ranked #11 of 62 in the 2009 Global Financial Cities Index
• A gateway to 111 million residents in the Northeast and Midwest United States: reached bya 60-minute flight or 1-day drive
• The site of over 79,700 workplaces in key science and technology industries and more than308,000 enterprises across major industry sectors
• Home to over 4.1 million employees, 1.8 million with post-secondary degrees (2008)
• One of the most diversified economies in the western hemisphere with exceptional supportservices, cross-sectoral scope and synergy, large talent pools in critical staff areas, anda magnet for knowledge and creativity
• Well-connected worldwide with the highest growth rate in broadband penetration ofthe G7 countries
PIVOTAL NORTH AMERICAN LOCATION
1-day drive or 60-minute flight from most major cities in Northeast and Midwest.
“The Toronto Region is home to one of thelargest and most productive concentrationsof research and development talent in theworld, and serves as a portal to all of NorthAmerica’s major markets and institutions.”
Dan Fortin, former President, IBM Canada Ltd.
Public Administration3.7%Non-commercial
Services16.4%
CommercialServices
25%
Finance Insurance& Real Estate
9%
Wholesale & Retail Trade
15.6%
Transport & Communicatons
8.5%
Construction6.5%
Manufacturing 14%
Primary & Utilities1.3%
Distribution of Employment in TorontoRegion, 2008
Source: Conference Board of Canada
Real GDP at basic prices (2002 $millions) GDP percentage change
0
50
100
150
200
250
300
350
-0.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2006 2007 2008 2009 2010 2011 2012 2013
Bill
ions
($)
Per
cent
age
Cha
nge(
%)
GDP and GDP Growth in Toronto Region,2006 – 2013 (in billions)
Source: Conference Board of Canada
THE TORONTO REGION
The Toronto Region is located in the industrial and metropolitan heartland of Ontario, Canada. It encompasses theregions of Durham, Guelph, Halton, Hamilton, Peel, Toronto, Waterloo, Wellington and York.
Exceptional Infrastructure
Air
• Several airports, including North America’s fourth largest (Toronto-Pearson)
• 65 airlines operating flights to 98 international cities, 55 US cities, and 39 Canadian cities
“Canada’s financial system is mature, sophisticated, and well-managed. Financial stabilityis underpinned by sound macroeconomic policies and strong, prudential regulation andsupervision…The five large banking groups that form the core of the system areconservatively managed and highly profitable.”IMF 2008 Financial Stability Report
Contact the Toronto Region Research Alliance at 416-673-6670 or visit www.trra.ca
