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World’s best place to live
–The Economist, 2015
Top 10 most appealing cities to live and work
–Youthful Cities Index, 2015
Toronto is a global city filled with vast opportunity and is home to an array of distinctive and dynamic neighbourhoods that reflect the diversity of its population. The city is known for its vibrant arts and entertainment scene, incredible cultural festivals, delicious food, thriving sports culture, excellent shopping, beautiful parks and beaches, and much more.
Toronto is an excellent place to live and work. Whether you prefer in wine bars, microbreweries, live music venues, internationally-renowned restaurants, trendy markets, exotic food trucks, specialty boutiques, global and local retail stores, cheering on the city’s professional sports teams with thousands of adoring fans, or a little bit of everything, Toronto has something great to offer you.
By opening for business in Toronto, you position yourself in the heart of a thriving metropolis, with incredible opportunities available to you, regardless of your industry.
The world’s most tax-competitive major city
Toronto ranks ahead of all large U.S. cities and is sixth worldwide in business cost competitiveness
–KPMG Competitive Alternatives Report, 2014
It’s easy to do business in Toronto.
The governments of Canada, Ontario and Toronto provide a range of incentives to allow businesses to grow and prosper here. Each order of government is committed to competitive tax rates that make it easier for businesses to succeed in a politically stable environment. Annual business operating costs are significantly lower in Toronto than in many leading international centres and the combined corporate income tax rate is 26.5 per cent, approximately 13 percentage points lower than the U.S. average.
But that is far from the only reason to do business in Toronto. With the elimination of over 1,500 tariffs on manufacturing inputs, machinery and equipment, Canada was the first country in the G20 to become a tariff-free zone for manufacturers. Canada also offers the lowest overall tax rate in the G7.
The City of Toronto’s unparalleled financial stability and dynamic investment strategies mitigate the risk of inflation instability, exchange rate fluctuations, and limitations to short or long-term capital access, force majeure, and higher operating costs.
No.1 in the world for long-term real estate investment
–Grosvernor Group, 2014
Hottest luxury real estate market in the world
–Christie’s International Real Estate, 2015
Toronto’s growing population coincides with increased development and investment in the city and surrounding region. This is why the Toronto area an excellent place to set up shop. Take advantage of a flourishing marketplace to grow your business.
There is no question that construction, a key indicator of economic vitality, is booming in Toronto. In the past 40 years, Toronto’s downtown population has doubled and one-third of all jobs in the city are now within the core.
Incredible growth is evident in all areas of the city. The LEED Gold-designated Southcore Financial Centre has recently increased premium office space in downtown Toronto by 1.4 million square feet. Toronto’s waterfront revitalization is the largest urban renewal project currently underway in North America. The ground-breaking Regent Park Revitalization project is transforming the former 69-acre social-housing development into a self-sufficient mixed income, multi-use community.
The city is also benefiting from a surge of investment in public infrastructure and transit to meet the needs of this rapidly expanding region. The newly completed UP (Union Pearson) Express shortens the trip from downtown to Pearson International Airport to just 25 minutes, putting international destinations closer than ever before. Union Station, Canada’s busiest and most important multi-modal passenger transportation hub is also undergoing a major redevelopment, making transit throughout the region more comfortable, reliable, and accessible.
Fifty-one per cent of Toronto’s residents were born outside Canada and over 150 languages and dialects are spoken here
Eighth most popular destination for global talent – ahead of San Francisco, Tokyo, Munich and Copenhagen
-Boston Consulting Group, 2014
Toronto is a marquee destination for global talent, making it a prime place to do business.
Every day, people from around the world converge in Toronto; tens of thousands choose this city as their new home each year. Toronto’s deep, diverse and globally connected talent pool of skilled, highly-educated and culturally savvy individuals is the driving force behind its economic prosperity and innovation.
Toronto’s numerous and reputable academic institutions are international hubs of research and higher learning, attracting thousands of international students annually. Canada ranks among the top of OECD (Organisation for Economic Co-operation and Development) countries for completed post-secondary education and Toronto residents have higher levels of educational attainment than other Canadians.
Diversity truly is Toronto’s strength, making the city a dynamic, progressive and welcoming place to work and live. Harness the global marketplace by doing business in Toronto.
More than 135 million people live within a 90-minute flight of Toronto
Toronto’s airports provide non-stop and same-plane service to 200 global destinations in 55 countries
A Toronto address puts your business in the heart of the political and financial centre of North America with close proximity to New York, Chicago, Boston, Washington, and more.
Travel quickly to key destinations thanks to the more than a thousand flights that leave Toronto Pearson International and Billy Bishop each day. Operating in Toronto gives you quick and easy communication and travel with many other major cities and regions.
Not only is Toronto physically close to major centres, but international trade agreements (such as the North American Free Trade Agreement and the Comprehensive Economic Trade Agreement between Canada and the European Union) open the door to more than a billion consumers across the United States, Mexico and the European Union with a combined GDP of over $37 trillion.
Toronto and Canada are internationally recognized business destinations. Canada was recently designated as the first renminbi (RMB) trading hub in the Americas and the only RMB trading hub in North America. This designation strengthens Toronto’s economic and business relationship with China, making the cost of doing business with Asian partners cheaper for Canadian companies, and boosting trade between the two countries. Doing business in Toronto means doing business with the entire world.
Toronto’s startup ecosystem is the largest in Canada and ranks in the top 20 most active startup scenes in the world
–Compass Global Startup Ecosystem Ranking, 2015
Ranked among the top three cities in which Venture Capitalists and Angels are most interested in investing
Toronto understands the power of the startup and works with entrepreneurial ventures in all industries to help them develop, prosper and grow.
Small businesses form the cornerstone of economic growth and job creation for Toronto. The city’s vibrant startup culture and ecosystem has achieved international recognition and homegrown successes are now inspiring a future generation of entrepreneurs.
The strength of Toronto’s startup ecosystem is fueled by the city’s highly-educated and globally-connected talent pool and a unique set of support programs that foster innovation and collaboration.
At its core, Toronto is a diverse cluster of business incubators and accelerators that offer a range of services and strategic partnerships to support sectors from technology and biotechnology to food manufacturing, fashion design and music. These organizations have contributed to growing some of the most cutting-edge startups in North America.
One of the largest life sciences sectors in North America with more than 800 companies
Third largest North American centre for information and communications technology firms
–Branham Group Report, 2014
Toronto is home to a thriving and diverse collection of researchers, innovation hubs, technology companies, and entrepreneurs who are tackling the issues and industries of the future today. Position your startup within this flourishing marketplace by doing business in Toronto.
Toronto’s life sciences and health sciences cluster attracts over $1B annually in research and employs close to 40,000 highly trained professionals. At the core of this diverse ecosystem is the Toronto Discovery District, a 2.5 square- kilometre downtown research park surrounding world-class research hospitals.
With more than 650,000 square-metres of facilities, this innovation centre represents Canada’s largest concentration of research institutes, business incubators, and banking / venture capital organizations. At its heart is the MaRS Centre, one of the world’s largest urban innovation hubs, and a home for entrepreneurs building Canada’s next generation of growth companies.
Toronto is also home to one of the top technology industries on the continent with a thriving startup community and more than 14,000 established businesses including tech giants like Microsoft, IBM Cisco, Google and Facebook.
Second largest aerospace cluster in Canada providing a broad range of aerospace/aviation design, manufacturing, and product support for the global industry
Second largest and fastest growing food and beverage sector in North America with more than 1,100 food and beverage production establishments
In Toronto, if it can be imagined, it can be created.
Toronto is the destination of choice for a wide range of traditional and advanced manufacturers across many industrial sectors: food and beverage, life sciences, fashion/apparel, technology, machinery and equipment, automotive and aerospace.
Approximately 4,300 of these firms employ almost 120,000 people, representing nine per cent of Toronto’s total employment.
The manufacturing landscape has also evolved with the advent of the maker movement – a global movement of computer programmers, crafters, designers, engineers, artists, scientists, and entrepreneurs who are reinventing the way products are made. Digital manufacturing, nanomanufacturing, flexible electronics manufacturing and additive manufacturing technologies are all being used or introduced in Toronto.
An influx in infrastructure to support this movement has increased its growth exponentially. From organic meet-ups and workshops to more formalized institution-led programs, Toronto is a place where innovation thrives.
Arts and culture contribute $11.3 billion annually to Toronto’s GDP and employ 130,000 people
$1.23 billion was spent on film and television productions shot in Toronto in 2014
Toronto is home to Canada’s largest and most diverse creative cultural economy, with a strong reputation for developing artists who go on to global fame.
Arts and culture grows and flourishes here. Sixty-six per cent more artists live in Toronto than in any other Canadian city and they contribute to a rich interdisciplinary cultural sector that is unlike any in the world.
Toronto is a film production powerhouse and its well-established vibrant music scene makes it the third-largest film and music centre in North America alongside Los Angeles and New York City. The Toronto International Film Festival (TIFF) is recognized as the most important film festival outside of Cannes and has become a launching pad for the best of international, Hollywood and Canadian cinema.
Toronto helps culture blossom. The Province of Ontario offers one of the most comprehensive ranges of tax incentives for film and television production and digital media, and has established an annual $15 million Ontario Music Fund, which reflects the importance of the creative sector to the economy.
Toronto’s eight publicly-funded post-secondary institutions collectively enrolled 245,508 full-time students in 2014
The DMZ at Ryerson ranked top university-based incubator in North America
–UBI Global, 2015
Toronto is the largest centre of education, research and innovation in Canada. By locating your startup business in Toronto, you position yourself to take advantage of a deep talent pool and give yourself the opportunity to work with the best.
Toronto’s internationally-renowned educational institutions play an integral role in the city’s ability to attract the best businesses and the brightest minds.
Innovative post-secondary programs such as the DMZ at Ryerson University; OCAD University’s Strategic Innovation Lab; Humber College’s HumberLaunch entrepreneurship program; George Brown College’s Food Innovation and Research Studio; Sheridan College’s Oscar-winning animation program; and York University’s new academic-industry joint venture to fund 3D Film Innovation, support skills development as well as incubate and accelerate new companies.
Toronto’s leading-edge manufacturing industry benefits from programs such as Seneca College’s Office of Research and Innovation, which offers a focus on applied research in manufacturing; and the University of Toronto’s Mechanical and Industrial Engineering program, which houses a research laboratory focused on advanced manufacturing and materials engineering.
Business in Toronto means a wealth of incredible knowledge and talent right at your doorstep.