Toronto Region: A North American economic powerhouse
The Toronto Region is one of North America's top four economic powerhouses - on a par with Los Angeles, New York and Chicago. The region offers exceptional research infrastructure, a strong, diversified economy, and a government that fosters innovation. These advantages create a dynamic environment that fosters convergence in new fields, such as nanotechnology, stem cell research, biomarkers, quantum computing, ophthalmic technologies, health informatics, water technologies, green technologies, and digital media.
- Generating GDP of $337 billion in 2008, bigger than Finland, Korea, Austria or Switzerland
- One of North America's top four economic powerhouses - New York, Los Angeles, Chicago and Toronto:
- #2 Automotive
- #2 Food Production
- #3 Biomedical/Biotechnology
- #3 IT/Communications
- #4 Financial Services
- At 7.4 million people, the 4th largest urban region in North America
The Toronto Region is recognized as a global economic centre:
- Ranked # 1 for the soundness of its banking system by World Economic Forum (Global Competitiveness Report 2008-2009)
- 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)
- 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
"Ontario gives us access to highly skilled engineers and some of the most attractive R&D incentives anywhere."
-- Robert Schad, Former President and CEO, Husky Injection Molding Systems
© 2010 Toronto Region Research Alliance