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 Toronto is Canada's economic engine
Canada's largest city, Toronto is a trade hub with a skilled workforce and world-class post-secondary institutions, as well as international markets. Toronto's GDP is close to 20% of Canada's economic output

The city of Toronto has 2.8 million people, and 5.9 million in the Greater Toronto Area. It is the capital of Canada's largest province, Ontario. Toronto is particularly suited to the growing globalization of economic activity.

Located two hours from the US border, Toronto is a vital hub for transportation. There are two airports, which handle an annual volume of 400,000 flights and serve almost 33 million customers a year. The city is made up of a highly educated and diversified workforce. In fact, 65% of the workforce has a post-secondary degree and 50% of the population is foreign-born.

Toronto is currently experiencing a significant wave in its real estate development, a wave that is giving a new look to the cityscape. In 2012, Emporis recognized Toronto as the "metropolis of skyscrapers in North America" ​​because Toronto has the largest number of skyscrapers under construction in the continent. Megaprojects, such as the greater revitalization of North American waterfront areas and a $ 1 billion private sector tourism development in northwestern Toronto, are helping the city to realize its potential.

Toronto offers a high-quality business environment, unique business opportunities, competitive cost advantages, stable capital markets and an unmatched quality of life. In addition, there is a wide range of economic clusters, including financial services, information and communications technology, and life sciences. As pillars of the Toronto economy, these three industries support other booming industries, such as digital media, manufacturing, food processing, fashion and green technologies. All of this makes Toronto one of the most diversified markets in North America.



Why Toronto

As it was considering relocating the company's global resource center, KPMG International's management team compared 28 major locations including Toronto, London, Amsterdam and New York.

After careful consideration and for two years of viable locations, Toronto was chosen as the preferred destination. The appeal of Toronto was based on several key factors:

By 2017, Toronto is expected to surpass London as a global banking center
Access to other financial centers - New York, London, Dubai
According to the World Economic Forum, Canada is recognized as having the "most robust financial system in the world"
Access to a diverse, multicultural and competent society
A highly skilled workforce
Very easy access to international markets through transportation centers
KPMG's Competitive Alternatives 2012 ranks Toronto 2nd in cost competitiveness in North America, ahead of New York, Los Angeles, Boston, Chicago, Houston, Dallas and Vancouver. Globally, Toronto offers lower prices than Milan, Rome, Berlin, Paris, London, Frankfurt, Melbourne, Sydney and Tokyo.

Commercial benefits

The City of Toronto is particularly focused on providing high quality services to the business sector. Invest Toronto plays an important role in matching world-class businesses with opportunities in Toronto. Working closely with the city and its many partners, including the Government of Canada, the Province of Ontario, the Toronto Financial Services Alliance and the Greater Toronto Marketing Alliance, and professional services firms, Invest Toronto is responsible for attract foreign direct investment into the City of Toronto.

Invest Toronto offers one-to-one business and site selector consultations that make investment decisions for global businesses. In addition, Invest Toronto helps companies by facilitating interactions with industry experts, as well as government and business linkages. The organization also provides industry-specific analyzes and comparative studies.

Once established in Toronto, businesses can work with the City of Toronto's Economic Development and Culture Division, which provides a number of services to local businesses, including through the Strategic Growth and Development Team. sectoral development and the one responsible for maintaining and expanding businesses. These two teams interact daily with the business community; they implement sectoral strategies, revitalize job areas, speed up approval processes and administer City of Toronto grants.
Plans for the future

Toronto's ongoing growth and development plans include:

An air-rail link from the international airport to the city center
A pedestrian tunnel leading to Toronto City Center Airport
Completion in 2013 of four new luxury hotels, Shangri-La, Ritz Carlton, Trump Towers, and Four Seasons
A waterfront development that will transform 800 hectares of land near the downtown core into 40,000 residential units, 1.2 million square feet of commercial space and 300 hectares of parkland
An additional $ 1.1 billion for the construction of a mixed-use, ecologically sustainable neighborhood planned for the city's waterfront
Southcore Financial Center, including two office towers, 1.4 million square feet, part of which is already complete
Redevelopment of the Metro Toronto Convention Center, a project that will include four new towers, housing residences, retail and a hotel
New tourist attractions, including the Aga Khan Museum, a $ 130-million aquarium, a 230-hectare historic aviation center, and a multi-purpose recreation area       

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