Toronto Region Advanced Economy Fact Sheet 2010


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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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Toronto Region Advanced Economy Fact Sheet 2010

  1. 1. • A world-leading economic region: • Ranked #1 for the soundness of its banking system by World Economic Forum (Global Competitiveness 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 by a 60-minute flight or 1-day drive • The site of over 79,700 workplaces in key science and technology industries and more than 308,000 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 support ADVANCED ECONOMY services, cross-sectoral scope and synergy, large talent pools in critical staff areas, and a magnet for knowledge and creativity • Well-connected worldwide with the highest growth rate in broadband penetration of the G7 countries THE TORONTO REGION IS … 1-day drive or 60-minute flight from most major cities in Northeast and Midwest. PIVOTAL NORTH AMERICAN LOCATION April 2010 © Toronto Region Research Alliance
  2. 2. Dan Fortin, former President, IBM Canada Ltd. The Toronto Region is located in the industrial and metropolitan heartland of Ontario, Canada. It encompasses the Exceptional Infrastructure regions of Durham, Guelph, Halton, Hamilton, Peel, Toronto, Waterloo, Wellington and York. 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 GDP and GDP Growth in Toronto Region, Distribution of Employment in Toronto 2006 – 2013 (in billions) Region, 2008 “The Toronto Region is home to one of the largest and most productive concentrations of research and development talent in the world, and serves as a portal to all of North America’s major markets and institutions.” 350 4.0 3.5 300 3.0 Public Administration 250 Non-commercial 3.7% 2.5 THE TORONTO REGION Services Manufacturing 200 2.0 16.4% 14% 150 1.5 Construction 1.0 6.5% 100 0.5 Primary & Utilities 50 1.3% 0.0 Commercial Services 0 -0.5 Transport & 25% 2006 2007 2008 2009 2010 2011 2012 2013 Communicatons 8.5% Wholesale & Finance Insurance Retail Trade Source: Conference Board of Canada & Real Estate 15.6% Source: Conference Board of Canada 9% Real GDP at basic prices (2002 $millions) GDP percentage change IMF 2008 Financial Stability Report Percentage Change(%) Billions ($) “Canada’s financial system is mature, sophisticated, and well-managed. Financial stability is underpinned by sound macroeconomic policies and strong, prudential regulation and supervision…The five large banking groups that form the core of the system are conservatively managed and highly profitable.” Contact the Toronto Region Research Alliance at 416-673-6670 or visit