Toronto Region: A solid business environment underpins a strong economy

A solid research base is crucial for research-active industries, but so is a solid business environment. The Toronto Region generates a GDP more than 20 per cent of Canada's GDP and is home to over 40 per cent of the country's head offices.

An economic powerhouse

The Toronto Region has the combined power of R&D clusters in several strategic fields:

Second largest automotive industry cluster
Second largest food processing cluster
A major information technology and telecom equipment cluster
One of the largest biomedical and biotechnology clusters

These clusters are home to some of the globe's leading innovative companies. Doing business in the Toronto Region means easy access to major markets, with 111 million people just a one-hour flight away. The transportation infrastructure is sophisticated and efficient, including North America's fourth largest airport and second most travelled super-highway

Strong, stable Canadian economy

Canada is considered one of the the most financially stable regions in the world according to the World Economic Forum's Global Competitiveness Report. Canada ranks 1st for the soundness of its banking system.

Supportive government policies

The governments of Canada and Ontario have demonstrated a growing commitment to fostering innovation and research-based industry in recent years. The tax credits and incentives available to R&D-intensive companies in the Toronto Region are world-leading, while research funding has been on the rise.