This week, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), we welcomed Bryan May, Parliamentary Secretary to the Minister of Small Business and to the Minister responsible for FedDev Ontario, to announce a $5-million investment in Toronto Global. This funding will enable Toronto Global to pursue its mandate over the next two years, building on the organization’s success since its inception. The project also aims to strengthen regional clusters and value chains by connecting local suppliers with international businesses, leading to enhanced business productivity and global competitiveness.
We were pleased to be joined at this week’s event by our regional and municipal partners from the City of Toronto, York Region and Halton Region, along with our Board of Directors and Toronto Global staff. We are grateful to our stakeholders for their partnership – investment attraction is truly a collaborative effort, and we have an incredible force behind us.
This announcement shows that our funding partners continue to put their confidence in us to represent Canada and the Toronto Region on the international stage, to land investments in the region and fuel the economic engine of the country.
Launched in 2017 with support from all three levels of government, Toronto Global focuses on attracting global investments and attracting businesses to set roots in the Greater Toronto Area which leads to job creation and boosts the economy. To date, the organization has helped companies set up operations in the region, creating thousands of jobs and generating tax revenue of over $1.4 billion. Contributions from the Government of Canada through FedDev Ontario have allowed us to reach international companies considering expansion. We were privileged to welcome federal ministers Sean Fraser, Anita Anand, and François-Philippe Champagne to a number of our clients’ announcements – further evidence of this valued partnership between Toronto Global and the Government of Canada. We share a mutual goal of attracting impactful investment and building a strong and resilient economy.
Amongst the company investments, we have some milestone landings, including Netflix, Unilever, Pinterest, Sanofi, Recursion, Reddit and Snowflake. These companies bet on the Toronto Region for all of the reasons that we already know to be true – we are the fastest growing city in North America, home to the deepest pool of talent and most diverse marketplace on the continent, and we are a world leader in AI and technology innovation. FedDev Ontario’s support allows Toronto Global to expand its investment attraction efforts, marketing this value proposition far and wide, and build a brand and reputation for the Toronto Region that is bold and confident on the global stage.
Thank you to FedDev Ontario for its contributions to Toronto Global’s successes to date and for its commitment to our future.