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Toronto’s Agenda for Prosperity

Toronto’s Agenda for Prosperity. Presentation to YEP/TTB Information Session November 13, 2009. Toronto Economic Shocks. Toronto’s Changing Economy. Financial Services. 1990. 2007. Business Services. Government. 9%. 11%. FTA Jan. 1, 1989. Other Office Employ. Global Credit

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Toronto’s Agenda for Prosperity

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  1. Toronto’s Agenda for Prosperity Presentation to YEP/TTB Information Session November 13, 2009

  2. Toronto Economic Shocks Toronto’s Changing Economy Financial Services 1990 2007 Business Services Government 9% 11% FTA Jan. 1, 1989 Other Office Employ Global Credit Crisis, 2008 13% Institutional 15% ? Manufacturing 5% 5% Retail 12% 11% DOT Com Bust 2001 Personal Services Hospitality/Entertain 14% SARS 2003 18% GST Jan. 1, 1991 21% 13% NAFTA Jan. 1, 1994 12% 12% 6% 6% 9% 8%

  3. Toronto’s Diversified Economy

  4. Occupation mix changing as well

  5. Income Polarization

  6. Unemployment RatesYouth vs All 1987 - 2006 Unemployment Rate (%) Year

  7. Canadian CitiesTotal Population 2006 Census

  8. A Vision for Toronto Toronto, Ontario, Canada

  9. Economic Prosperity: Four Pillars Proactive Toronto Business Climate Improve the business climate to enable, accelerate and attract economic growth Global Toronto Internationalization Diversify our international portfolio by increasing our economic activity beyond North America Creative Toronto Productivity and Growth Anchor and expand strategic industry sectors through increased competition and collaboration One Toronto Economic Opportunity and Inclusion Enhance and expand Toronto’s labour force and ensure all residents have access to benefits of Toronto’s economic growth

  10. Proactive Toronto: Business Climate Thousands of Jobs Source: Toronto Econometric Model V5

  11. Business Climate: Progress Tracking • Two new City Development Agencies to: • Generate new value from city assets – • Build Toronto • Generate new foreign direct investment– Invest Toronto • Concierge Program to fast-track jobs.

  12. Global Toronto: Internationalization

  13. Global Toronto

  14. Creative Toronto: Productivity and Resilience

  15. The Opportunity: City of Learning Educational Attainment – Toronto vs. top 10 U.S. metropolitan regions

  16. One Toronto: Opportunity and Inclusion

  17. Green Jobs • What does “Going Green” mean for Toronto and Job Opportunities? • Three levels: • ‘Green’ Industries • The ‘greening’ of traditional industries, eg. manufacturing and construction • Drastic change and the learning economy

  18. The Learning Economy “The learning economy concept signals that the most important trend shift is not the more intensive use of knowledge in the economy but rather that knowledge becomes obsolete more rapidly than before”

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