“Toronto Global” to attract investment and create jobs

Published On February 4, 2017 | By HN Staff | Business, News

By: Robert Williamson and Helena Shlapak

A new agency that aims to create new global investments in the Toronto region and create at least 500 jobs is already generating excitement in Toronto.

Toronto Global, is an investment-attracting agency which will promote the Toronto region for business purposes.

“The Toronto region is emerging as a global centre for investment, talent and innovation,” said Toronto Mayor John Tory, at a news conference to announce the agency. “Through the leadership and vision of Toronto Global we will send a clear signal to the world: the Toronto region is open for business.”

As a part of the Federal Government’s Innovation Agenda (a plan to drive economic growth for the country) the hope is that the new agency will attract more international investments to drive up the economy and innovation.

Toronto Global also hopes to add the 500 new jobs by December 2018. The agency goes hand-in-hand with the Invest in Canada hub, a plan to increase investment in Canada over the next five years.

Mayor John Tory was joined at the news conference by Mississauga Mayor Bonnie Crombie and two Ontario cabinet ministers.

 

Mayor John Tory takes the podium. (Helena Shlapak and Robert Williamson)

Brad Duguid, Minister of Economic Development and Growth, said that Ontario was currently in a position of strength in terms of economic growth.

“We’re leading the U.S., we’re leading the UK, France, Germany, it’s a good place to be.”

Duguid added that millions of American jobs depended on a unfettered border with Canada. “It’s in their enlightened self-interest to ensure these borders remain unfettered. That the integration we have in our economies-which is significant-continues.”

Navdeep Bains, Minister of Innovation, Science and Economic Development, said that protectionism policy south of the border will work to Ontario’s advantage.

“We have decided that we’re going to be open: open to ideas, open to people, open to innovation,” said Bains. “That model is going to allow Canada to compete, and attract more investments to create jobs. It really is a point of pride and strength which is our diversity.”

Navdeep Bains talks about diversity. (Helena Shlapak and Robert Williamson)

Over the next three years, Toronto Global will receive $19.5 million in funding from the Canadian Government, the Government of Ontario and several municipal governments from around the GTA.

“With all three levels of government working together to drive investment and interest in our city and our region, we will open up new opportunities for our residents and our industries,” said Tory.

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