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Toronto Region At a Glance Fact Sheet
Global Status Fact Sheet
Top Talent Fact Sheet
Outstanding R&D Fact Sheet
Competitive Costs Fact Sheet
Advanced Economy Fact Sheet
Lifestyle Options 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 (2009)
- Ranked #10 in Forbes World's Most Economically Powerful Cities in 2008
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
- Lowest health expenditures as a percentage of GDP of all G7 countries
- Low cost of living compared to most world centres
- Lower tax rates on new business investment than the US or OECD countries by 2010
- 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
- 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 Center of Commerce Index (2008)
- Ranked #4 for Best Economic Potential by Foreign Direct Investment Magazine (2009)
- 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
- Ranked #1 Best Quality of Life according to Foreign Direct Investment (2009)
- 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
© 2010 Toronto Region Research Alliance