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Toronto Region Competitive Costs Fact Sheet 2010
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Toronto Region Competitive Costs Fact Sheet 2010

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The Toronto Region also is a global leader in competitive research and development. Canada offers some of the most generous R&D tax incentives of any industrialized country, and corporate income and …

The Toronto Region also is a global leader in competitive research and development. Canada offers some of the most generous R&D tax incentives of any industrialized country, and corporate income and capital taxes are lower than in the US. Overall, the Toronto Region's cost advantage relative to the US is significant.

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  • 1. • A global leader in competitive R&D costs – 14% less expensive than Tokyo, 8% less than Frankfurt, 7% less than New York, and 6% less than London in 2009 (KPMG 2010) • The source for some of the world’s most generous R&D tax credits, surpassing G7 countries such as Japan, United .Kingdom, United States, and Germany • Located in a business-friendly environment. Canada is: • Ranked #1 for the soundness of its banking system by World Economic Forum, Global Competitiveness Report 2008-2009 • Ranked #1 in number of procedures required to start a business by World Economic Forum, Global Competitiveness Report 2008-2009 • Ranked #2 in time required to start a business by World Economic Forum, Global Competitiveness Report 2008-2009 • Ranked #4 globally for Ease of Doing Business by MasterCard Worldwide Centers of Commerce Index (2008) • Ranked #7in the global total tax index, and #3 in the R&D sector in the total tax index (KPMG, 2008) • The site of the lowest health expenditures as a percentage of GDP of all G7 countries COMPETITIVE COSTS • An affordable city that has a lower cost of living than Tokyo, London, New York and Hong Kong (Mercer Cost of Living Survey, 2009) • Close to US – offering low transportation costs to large North American markets • Supported by well-developed transportation and telecommunications infrastructure • A venue with varied location sites from Central Business District to economical ex-urban areas THE TORONTO REGION IS … Low Operating Costs for Research and Development Health Expenditure as a per cent of GDP, Ontario vs. G7 – 2007 Toronto Region 95.8 Raleigh 96.4 Ontario 7.2 Dallas 97.7 Japan 8.1 Houston 97.9 United Kingdom 8.4 Chicago 98.8 Italy 8.7 Paris 100.1 Boston 100.8 Canada 10.1 San Diego 100.9 Germany 10.4 London 101.7 France 11.0 New York City 102 United States 16 Frankfurt 103.6 Tokyo 108.9 Source: OECD Health Data 2008, Cost Index: 100 = US Average investontario.com, 2009 Source: KPMG Competitive Alternatives 2010 April 2010 © Toronto Region Research Alliance
  • 2. Robert Schad, Founder, Director and Senior Advisor, Husky Relative Generosity of R&D Tax Incentives 2009 Rank 1 Tokyo 3 Moscow 5 Hong Kong France 123.9 “Ontario gives us access to 8 New York Canada 100.0 highly skilled engineers and 10 Singapore some of the most attractive Japan 85.9 12 Shanghai R&D incentives anywhere.” United Kingdom 84 13 Paris United States 80.6 16 London Italy 77 47 Munich 66 Mumbai Germany 76.1 85 Toronto Source: Think CANADA 2010 Grants and loans GENEROUS R&D TAX CREDITS LOW COST OF LIVING Source: Mercer Cost of Living Survey 2009 • Ontario Centres of Excellence • Ontario Advanced Manufacturing Investment Strategy • Regional Innovation Networks (AMIS) • Industry liaison initiatives from regional Universities, • Ontario Market Readiness Program Colleges, Hospitals and Institutes of Technology • Federal Industrial Research Assistance Program (IRAP) • Federal Sustainable Development Technology Canada • Federal Technology Partnerships Canada ADDITIONAL SUPPORT OTHER SUPPORT Contact the Toronto Region Research Alliance at 416-673-6670 or visit www.trra.ca