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Toronto Region At a Glance Fact Sheet

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Toronto Region At a Glance

The Toronto Region is a dynamic economic powerhouse with outstanding research and development (R&D), an advanced cost-competitive economy, a highly-skilled labour force and numerous attractive lifestyle options.

Toronto Region Quick Facts

Global Status

• At 7.4 million people, the 4th largest urban region in North America
• Ranked # 1 for the soundness of its banking system by World Economic Forum (Global Competitiveness Report 2008-2009)
• Ranked #7 among Major Cities of the Future by Foreign Direct Investment Magazine
• Ranked #10 in Forbes World's Most Economically Powerful Cities 

Top Talent

• Best educated workforce in the G8 - 64% of labour force aged 25-64 holds a post-secondary degree or equivalent
• Chosen location for 45% of recent immigrants of which 60% with at least one university degree
• A continually renewed pool of skilled workers - every year 83,000 graduates and 47,000 immigrants with degrees enter a skilled workforce of 1.8 million (25-64 years of age)

Outstanding R&D

• Canada's largest centre for research and education - received one-third ($841 million) of research funding from the three major Canadian science granting councils in 2007-2008
• Chosen location for 35% of all R&D conducted in Canada
• Headquarters for 10 private sector R&D investors in Canada
• Home to 30% of Canada's most highly-cited scientists, with more highly-cited scientists per capita than the United Kingdom, Israel, Germany or Japan

Competitive Costs

• Global leader in competitive R&D costs - 45% less expensive than London, 41% less than Frankfurt, 37% less than New York, and 20% less than Paris in 2009 
• Some of the world's most generous R&D tax incentives with significantly more eligible costs than the US
• Low cost of living compared to most world centres
• Proximity to US means low transportation costs to large North American markets
• Supported by well-developed transportation and telecommunications infrastructure

Advanced Economy

• One of North America's top four economic powerhouses  - New York, Los Angeles, Chicago and Toronto: #2 Automotive, #2 Food Production, #3 Biotechnology, #4 Financial Servicesand #3 ICT
• Over 79,000 workplaces in science and technology industries, 270,000 enterprises across major industry sectors
• Home to over 4.1 million employees, 1.8 million with post-secondary degrees
• Pivotal location  - 60-minute flight or one-day drive to major Northeast and Midwest cities in North America

Attractive Lifestyles

• North America's 2nd best place to live (Mercer 2009)
• Ranked #4 City to Experience Culture (Global Cities Index 2008)
• One of the most diverse regions in the world; over 100 languages and dialects spoken
• The most cost-efficient and 2nd highest volume public transit service in North America

What's New

Premier's Innovation Awards honour 13 scientific achievements and award $12.95M to science and business winners.

Canada Research Chairs: 38 scientists at 6 Toronto Region universities named new or renewed Canada Research Chairs and receive $34.3 million in funding.