Toronto Region: Global Status fact sheet April 2010


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Learn why the Toronto Region is a global and North American economic powerhouse.

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Toronto Region: Global Status fact sheet April 2010

  1. 1. • Generating GDP of $349 billion in 2009, bigger than Korea, Finland, Austria or Switzerland • Ranked #1 for the soundness of its banking system by World Economic Forum (Global Competitiveness Report 2009-2010) • Ranked #3 Top City in North America by MasterCard Worldwide Centers of Commerce Index (2008) • Ranked #4 globally for Ease of Doing Business by MasterCard Worldwide Centers of Commerce Index (2008) • Ranked #4 for Best Economic Potential by Foreign Direct Investment Magazine (2009) • Ranked #7 among Major Cities of the Future by Foreign Direct Investment Magazine (2009) • One of North America’s top four economic powerhouses – New York, Los Angeles, Chicago and Toronto • Well-connected worldwide with the highest growth rate in broadband penetration of the G7 countries • Home to 7.4 million people – the 4th largest urban region in North America GLOBAL STATUS Number of key strategic clusters in which the region ranks in the Top 5 in North America THE TORONTO REGION IS … Los Angeles 22 Chicago 20 Toronto Region 18 New York 18 Boston 7 Dallas 7 San Jose 5 Houston 4 Detroit 3 Philadelphia 3 HUB OF R&D CLUSTERS Source: Harvard Institute for Strategy & Competiveness, 2007; Institute for Competitiveness and Prosperity (Canada), 2006 April 2010 © Toronto Region Research Alliance
  2. 2. Most Growth in Broadband Penetration of G7 Countries through June 2009 30 25 Canada Germany 20 France United Kingdom United States 15 Japan OECD Italy 10 5 0 HIGHLY-CONNECTED WORLDWIDE Source: OECD 2010 Research in Motion (RIM), creator of the Blackberry™, is one of Canada’s most visible high technology success stories. Revenue in 2010 for the Waterloo-based company grew 35% to US$15 billion. RIM’s worldwide head office, R&D facility and advanced manufacturing centre are all located in the Toronto Region. 2001- 2002- 2002- 2003- 2003- 2004- 2004- 2005- 2005- 2006- 2006- 2007- 2007- 2008- 2008- 2009- Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Also based in Waterloo, Open Text™ is the world’s largest independent provider of Enterprise Content Management software. In 2009, the company’s total revenue was US$786 million, an increase of 8%. IBM’s third largest software lab in the world is located here. The Toronto Lab employs 2,500 people and develops leading products for worldwide distribution. It is so successful that it has become a model for IBM’s other research locations around the world. sanofi pasteur announced a $100 million investment to build a new research and development facility in Toronto. With $13.9 million in support from the Government of Ontario’s Biopharmaceutical Investment Program, the planned state-of- the-art facility will house new, specialized R&D equipment and support high-value jobs. Xerox Research Centre of Canada (XRCC) is Xerox’ strategic materials research centre, enabling the flow of leading-edge document materials in both the paper and digital world, from research concepts to document solutions. Based in Mississauga, the Centre employs over 120 scientists and engineers, and has generated over 1,000 US patents over 35 years, adding 40-60 US patents/year to this portfolio. Toyota Manufacturing Canada opened a new assembly plant in southern Ontario, the first new automotive investment in Canada in 20 years. SPOTLIGHT ON... Contact the Toronto Region Research Alliance at 416-673-6670 or visit