A global leader in competitive research costs
The Toronto Region also is a global leader in competitive research and development. Measured by KPMG, Toronto is 45% less expensive than London, 41% less than Frankfurt, 37% less than New York, and 20% less than Paris.
Canada has the lowest overall labour costs in the G7. The country's strong universal health-care system translates into the lowest health care expenditures as a percentage of GDP of G7 countries.
Canada offers some of the most generous R&D tax incentives of any industrialized country, and corporate income and capital taxes are lower than in the US. Overall, the Toronto Region's cost advantage relative to the US is significant.
When it comes to new business investment, tax reform in Ontario will give the province a tax advantage over the US and OECD countries.
© 2011 Toronto Region Research Alliance