Torontos ict sector_-_10-25-2012-nasscom_presentation_v2[1]
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LinkedIn, office space toronto, toronto commercial office space, toronto executive office space, toronto office space for rent, commercial real estate toronto, toronto commercial real estate, sublease ...

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Torontos ict sector_-_10-25-2012-nasscom_presentation_v2[1] Torontos ict sector_-_10-25-2012-nasscom_presentation_v2[1] Presentation Transcript

  • INVEST TOSUCCEED.INVESTTORONTO.
  • INVEST TORONTOInvest Toronto is your connection to the global business opportunities found inToronto. Invest Toronto is responsible for attracting foreign direct investmentinto the City of Toronto. We offer one-on-one consultations to businesses andsite selectors making global business investment decisions.Our Services: • Complimentary concierge service for businesses • Answer all questions and enquiries on investment opportunities in Toronto • Facilitate introductions with sector experts and all three levels of government • Provide guidance on site location and selection • Facilitate business-to-business linkages • Provide industry and economic benchmarking analysis • Connect clients to qualified professional service individuals 2
  • International Companies Choose Toronto KPMG’s Global Resource Centre Chinese Investment Corporation Chose Toronto Chose TorontoKPMG compared 28 major locations, The China Investment Corporation (CIC)including London, Amsterdam and New York opened an office in Toronto, which servesto relocate their Global Resource Centre as its main centre for North American(finance, marketing, learning and investments. CIC chose Toronto for itsdevelopment, and IT professionals) based on foreign office over New York and Londonfour key criteria: based on four factors: •Business Environment •Proximity to New York and London •Social and Physical Environment •Business Friendly Environment •Availability of Space •Economic Stability and Resilience •Accessibility to Infrastructure • Peer Companies in Financial Services 3 View slide
  • Toronto is a Global Centre for ICT 4 View slide
  • Toronto: A Prime Location with Proximity to the U.S. • Toronto businesses have access to a market of 461 million consumers with a combined GDP of about US$17.9 trillion • 120 million people within a 500 mile radius of Toronto • Located within 90 minutes of New York, Chicago, Boston and Washington 5
  • Toronto: Strong and Resilient Economy• Soundest banking system in the world - 4 years in a row (World Economic Forum, 2008-2012)• During the financial crisis, no Canadian bank or insurer failed and none required bailouts (Government of Canada, 2012)• Since mid-2009, Canada has posted the fastest employment growth in the G7, recouping all of the jobs lost during the recession (Government of Canada, 2012) Dun & Bradstreet’s Global Risk Indicator Ranked Canada 2nd “Citigroup economists forecast that by 2014, Canada will be one of few countries to retain its AAA credit rating.” Financial Post (2012) 6
  • Toronto Has It All: Low Business Costs 2012 Cost Comparison, Toronto vs. International Peer Cities North America Global Montreal 94.3 Amsterdam 94.7 Toronto 95.7 Toronto 95.7 Atlanta 96.2 Milan 97.9 Vancouver 96.5 Rome 97.9 Dallas-Fort… 96.5 Berlin 98.0 Chicago 99.3 Paris 98.1Philadelphia 99.4 London 98.1Los Angeles 100.9 New York 103.4 Boston 101.2 Sydney 105.0 New York 103.4 Tokyo 112.3 Cost Index US average = 100.0 Source: KPMG Competitive Alternatives, 2012 (based upon 10 year average of total annual operating costs for 19 operations) 7
  • Toronto Has It All: Competitive Business Taxes Competitive Corporate Income Tax Rates, Ontario vs. Selected US States, 2012 • The General Federal/Ontario Ontario 15 11.5 26.5% corporate tax rate is 26.5% - Ohio* 35 35% below the level of most G7 Texas* 35 35% countries Michigan* 35 6.0 41% New York 35 7.1 42.1% • The Federal/Ontario corporate Wisconsin 35 7.9 42.9% tax rate on Manufacturing & Indiana 35 8.5 43.5% Processing is 25% California 35 8.84 43.5% Illnois 35 9.5 44.5% • The Federal/Ontario small Pennsylvania 35 9.99 45% business tax rate is 15.5% Federal Provincial/State * Ohio and Texas have gross receipts-style business taxes. Source: Tax Foundation - State Corporate Income Tax Rates, 2012 & Tax Watch, Spring 2012. Canada and Ontario governments are committed to competitive tax rates.The combined Income Tax rate of 26.5% is approximately 13 percentage points lower than the U.S. 8
  • An Established ICT Sector Estimated distribution of employees by ICT• Toronto’s ICT sector generates $52.2 billion in Firm Size revenues annually• 35 % of the top 250 firms in Canada’s ICT industry 1 to 4 are based in Toronto. 17% 5 to 9 29%• 11,500+ firms make up Toronto’s ICT sector 5% 10 to 19• Toronto is Canada’s leading tech center, with more 6% 20 to 49 than 175,000 employees 11% 50 to 99 12%• The sector has high levels of educational attainment: 10% 10% 96.9% of employees have a post-secondary 100 to 199 certificate, diploma or degree 200 to 499 500+ Source: Toronto Region Research Alliance, 2011
  • World Class ICT Trained and Educated Workforce• The ICT sector has a young workforce – 36.4% of ICT workers are under 35 years of age and 61.5% of the ICT workforce is under 45 years of age.• 50.2% of the ICT workforce is in the prime management age group (35 to 54 years of age).• The sector has high levels of educational attainment: 96.9% of employees have a post- secondary certificate, diploma or degree, compared with 88.9% for the general labour force.• The labour force is internationally minded, with business and personal linkages to nearly every country of the world.• In August, 2012 the Massachusetts Institute of Technology (MIT) recognized two Torontonians on their list of top 35 tech innovators under 35.• Hossein Rahnama of Ryerson University and Joyce Poon of the University of Toronto – are recognized for their individual achievements in taking on important problems in transformative ways
  • Over 60,600 Students Graduate Annually from TorontoBased Post-secondary Institutions• Toronto is home to 4 prominent universities. The largest three, University of Toronto, York University and Ryerson University offer a total of 21 ICT-related programs. The Ontario College of Art & Design University also offers an extensive curriculum of design and digital media programs.• The Toronto Area is home to six colleges that offer ICT-related programs. Seneca College, Humber College, Centennial College, Sheridan College, Durham College and George Brown College offer a combined 40 programs that prepare students for careers in the ICT industry.• Ubisoft Toronto established a research partnership with Sheridan College’s Screen Industries and Research Training Centre (SIRT) to encourage and facilitate knowledge sharing 70,000 Enrolment by City of Toronto Post-Secondary Institutions, 2010 59,286 60,000 50,000 40,941 40,000 30,000 19,817 18,419 20,000 16,183 13,803 8,917 10,000 2,947 0 University of York University Ryerson OCAD University Humber College Seneca College George Brown Centennial Toronto University College College
  • Toronto’s ICT job market is the second hottest in NorthAmerica Top 12 Cities to Find an IT Job in 2012 1) Houston, TX 2) Toronto, ON 3) Orlando, FL 4) San Francisco, CA 5) Minneapolis, MN 6) McLean, VA 7) Walnut Creek, CA 8) Detroit, MI 9) Jacksonville, FL 10) New York, NY 11) Denver, CO 12) Boston, MA Source: ITBusiness.ca (2012)
  • Excellent ICT Infrastructure• Highest wireless infrastructure support per capita in ICT Sector Breakdown by Revenue North America• 90% of the Toronto region has access to broadband technology• Downtown office space with 1 gigabyte symmetrical fibre Manufacturing infrastructure 3%• The carrier-neutral data centre in downtown Toronto Wholesaling houses the largest amount of fibre in Canada, and 2ND 45% largest in North America 49% Communications• The continent’s highest percentage of wire-line Software & Services telecommunications converted to fiber optic cable 3%• Reliable and cost effective infrastructure to maximize profit and minimize risk through consistency and rare downtime; safe and stable supplier of electricity and gas• Canada ranks 7 out of 133 countries in the Networked Source: OneSource, includes all ICT companies in Toronto CMA Readiness Index 2009-2010
  • Digital Media: Toronto is leading the way• There is an intersection of both tech and art that is taking place in Toronto at the upper educational level that is helping to drive the digital media wave in Toronto• The Toronto Area boasts over 800 New Media firms, with approximately 60% located within the City of Toronto• Digital Media is a $1.5 billion dollar industry in Ontario• Supporting Ontario’s dynamic digital media sector is a key priority of the Ontario Media Development Corporation, which funds digital content and capacity throughout the province “Totally Amp’d is the first app of its kind for the underserved tween mobile entertainment market. The project was supported by OMDC’s Ontario Interactive Digital Media Tax Credit”
  • Incubating the Digital Media SectorRyerson’s Digital Media Zone (DMZ)http://digitalmediazone.ryerson.ca/is designed for young entrepreneurs It’s a space where students and alumni come to innovate, collaborateand market their products and services, and where commercial enterprises can turn to for progressive andcreative digital solutionsOCAD University Mobile Experience Innovation Centre (MEIC)http://research.ocadu.ca/meic/homeis a not-for-profit association that supports design leadership, experience innovation and applied research inCanadas mobile and wireless industries.MaRS Incubatorhttp://www.marsdd.com/facilities/office-facilities/incubator/is a not-for-profit corporation that works closely with entrepreneurs to help turn their science and technologyinnovations into viable early stage businesses. Its not just a concept, its also a physical space, a cluster ofbuildings housing research labs, offices, venture capital firms, incubator facilities, and communityorganizations to support them.JOLThttp://marscommons.marsdd.com/how-we-help/joltiIs a technology accelerator dedicated to building high-growth web and mobile companies The four-monthprogram works closely with entrepreneurs from initial product launch through the next stage of companydevelopment and fundraising.George Brown College Digital Media and Gaming Incubatorhttp://www.gaminginc.ca/supports the city’s digital sectors by providing affordable space, business and professional services,technology and human resources. The incubator shares space with the School of Design’s digital programs,occupying 2000 square feet in a 26,000 square foot facility.Seneca College Centre for Development of Open Technologyhttp://cdot.senecac.on.ca/provides a physical and virtual environment for the development and research of open source softwarethrough collaboration with Seneca, the open source community, business, and other institutions.
  • Supporting the Growth of Emerging TechnologiesThe Ontario Emerging Technologies Fund (OETF or the Fund) is a direct co-investment fundestablished by the Province of Ontario in 2009. The $250 million fund co-invests alongsidequalified investors into innovative, high-growth, private, Ontario companies.OETF is designed to respond to the challenges faced in raising capital by innovative, private,Ontario-based companies in the clean technology, life sciences and advanced healthtechnologies, and digital media and information and communications technology sectors.Qualified Investors Include• Celtic House Venture Partner• JLA Ventures• Summerhill Venture Partners• Vertex Venture Capital• BlackBerry Partners Fund Source: http://www.ocgc.gov.on.ca/site/en/
  • Digital Related Education Programs NUMBER OFPROGRAM TYPE PROGRAMS ~ ENROLLMENTGame 14 712Animation 22 1,083Graphic Design 14 2,118Media Inc. Film 29 2,792Other 4 432Software Engineering (College) 6 216Computer Science (University) 43 7,843Computer Engineering (College) 6 1,049Computer Engineering (University) 10 715Computer Programming (College) 26 1,460Grand Total 174 18,420 Source: Ontario Technology Corridor. 2011
  • Competitive Cost Location for Software Development • Toronto offers among the lowest annual location cost’s among selected peer regions • The index number expresses the total operating costs, including taxes, for each city in percentage terms relative to the baseline of United States = 100.0 Source: KPMG CompetitiveAlternatives.com Cost Model, 2012, accessed on August 21st, 2012
  • Supportive Government IncentivesScientific Research And Experimental Development (SR&ED) | Canada Revenue Agencyhttp://www.cra-arc.gc.ca/sred/Largest Source Of Federal Funding For IncentivesWidely recognized as one of the most generous R&D incentive programs in the world, claimants can apply forSR&ED investment tax credits (ITC) of 20% of qualified expenditures such as wages, materials, machinery, equipment and some overhead.Ontario R&D Tax Credit (ORDTC) | Ontario Ministry of Revenuehttp://www.rev.gov.on.ca/en/credit/ordtc/index.htmlProvincial Top-Up for Revenue Positive Ontario SMEsProvides a 4.5% tax credit based on eligible SR&ED expenses carried out in Ontario. The credit may be used to reduce corporate incometax payable. Any unused credit may be carried back 3 years or carried forward 20 yearsOntario Innovation Tax Credit (OITC) | Ontario Ministry of Revenuehttp://www.rev.gov.on.ca/en/credit/oitc/index.htmlProvincial Top-Up Available for Ontario SMEsOntario SMEs are eligible for an additional 10% tax credit where qualifying SR&ED has been performed inOntario. The OITC can include 100% of current expenses and 40% of capital expenses up to a maximum of$300,000.Ontario Business Research Institute Tax Credit (OBRITC)http://www.rev.gov.on.ca/en/credit/ordtc/index.htmlOntario Ministry of RevenueTax Credits for Working with Universities and Colleges. OBRITC provides a 20% credit for SR&ED expenses incurred in Ontario under aneligible contract with an Eligible Research Institute (ERI) i.e. universities or colleges. Qualifying expenditures are capped at $20 millionannually. The maximum annual credit is $4 million.Ontario Interactive Digital Media Tax Credit (OIDMTC)http://www.cra-arc.gc.ca/sred/Ontario Media Development CorporationA refundable tax credit of up to 40% based on eligible Ontario labour expenditures and eligible marketing and distribution expenses claimedby a qualifying corporation in the creation of interactive digital media products in Ontario.
  • Incorporating a Business in Toronto Incorporation (Subsidiary) Federally Branch office • 25% of a federal corporation’s board of • A branch is an extension of its non- directors are required to be Canadian Canadian parent corporation residents. • Federal corporation requires greater disclosure • A subsidiary, a federally or and filing requirements. provincially incorporated business, is a separate legal entity from its • Federal corporations can headquarter in any parent. Canadian province. • The key distinction between a Provincially branch and a subsidiary is that a branch is not a separate legal • To operate in Ontario, corporations must entity; the non-Canadian either be registered federally or provincially in corporation is subject to liabilities Ontario. incurred by the branch in Canada. • Professional corporations are only available Additionally, the benefits of at the provincial level. incorporating federally or provincially do not apply to a • Ontario corporations require 25% of their branch office. directors to be Canadian residents. 20
  • Business Visas/ImmigrationTemporaryIntra-Company Transfer• Permits international companies to temporarily transfer qualified employees to Canada• Once the business is functional, the employee can apply for Permanent Residency as either a Skilled Worker/Professional or a Provincial NomineeForeign Worker Process• A positive Labour Market Opinion (LMO) is generally required to hire a temporary foreign worker if an Intra-company Transfer was not obtained. Employees must be paid at equivalent Canadian ratesPermanentProvincial Nominee Program Over the last 5 years, Toronto• Employer-driven program applicable to both new received an average of 85,000 investments and expansions to current operations new immigrants per yearSkilled Workers and Professionals (Citizenship and Immigration Canada, RDM, Preliminary 2011 Data)• Applicants must have an offer of permanent, full-time employment 21
  • CONTACTNikki HollandVice President, Public AffairsOffice: 416-981-3890Cellphone: 647-285-4273nholland@investtoronto.cawww.twitter.com/invest_torontowww.investtoronto.wordpress.com