1 / 32

Economic Trends, Issues & Directions

Economic Trends, Issues & Directions. North Etobicoke LIP Summit June 28 th 2011. Presentation Outline. Economic Competitiveness Factors The Good News Trends & Issues Unemployment Labour Force BR&E Highlights Key Directions. A Vital Economic Cycle requires….

vanpelt
Download Presentation

Economic Trends, Issues & Directions

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Economic Trends, Issues & Directions North Etobicoke LIP Summit June 28th 2011

  2. Presentation Outline • Economic Competitiveness Factors • The Good News • Trends & Issues • Unemployment • Labour Force • BR&E Highlights • Key Directions

  3. A Vital Economic Cycle requires… • Strong Economic Foundations • Competitive Export clusters • Vibrant Local Businesses

  4. Economic Diversity…provides resiliency Source: Statistics Canada Labour Force Survey and U.S. Bureau of Labor Statistics Current Population Survey

  5. The Good News…Toronto Ranks Well Internationally • Canada’s Best Sustainable City - Corporate Knights, Feb 2010. • Most active construction market in North America in term of the number of high-rise construction projects currently underway, www.emporis.com. • 6th in the world in terms of business cost competitiveness, KPMG Competitive Alternatives, 2010. • 7th Major North American City of the Future and 4th in terms of Best Economic Potential, Foreign Policy magazine 2009/10. • 12th among global financial centres and 3rd in North America, Z/Yen Group 2010. • 14th in the Global Cities Index and 9th in the best Human Capital, A.T. Kearney 2010.

  6. 4th Largest City in Canada & U.S.A Source: Statistics Canada and US Census Bureau, Population Estimates Program

  7. Toronto’s GDP greater than most provinces Toronto CMA City of Toronto Source: Conference Board of Canada

  8. Well Educated, Highly Skilled Labour Force By Education Attainment Source: Statistics Canada Labour Force Survey

  9. Cultural Diversity… an Untapped Advantage Source: Statistics Canada 2006 Census

  10. Employment Growth 2000 – 2009Canadian and U.S. Urban Regions Source: U.S. Employment: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics program Canada Employment: Statistics Canada, Labour Force Survey

  11. Recession is over, but growth will be uneven Source: Statistics Canada, Conference Board of Canada, Five Major Banks

  12. City of TorontoJob Growth 2008-2010 Source: Toronto Employment Survey

  13. Unemployment RateMajor Canadian Economic Regions

  14. City of TorontoUnemployment & Social Assistance

  15. Unemployment RatesYouth, Recent Immigrants, All Residents 15-24 yrs. Of Age Total Unemployment Rate Source: Statistics Canada Labour Force Survey

  16. Reinvestment Stimulated Sources: Statistics Canada

  17. High Rise Buildings Under ConstructionNorth American Cities Source : www.emporis.com

  18. The Pace of New Development in Toronto is Unprecedented Cushman & Wakefield, 2010

  19. Business Retention & Expansion Division Focus of the Business Retention & Expansion (BR&E) Unit is to: • Retain existing businesses, jobs and the tax base – focus on office and industrial • Assist with growth and expansion of existing firms and location of new firms – increasing the tax base and creating and saving jobs

  20. BR&E Services – “Can-Do” Customer Service • Corporate Care/Problem Resolution • “Business Connect” • Gold Star for Business • Imagination, Manufacturing, Innovation & Technology Program (IMIT) • Special Projects

  21. IMIT Program Approved by Council in 2008 Provides a 10-year property tax rebate on the newly created assessed value Must be in a targeted sector- higher value/knowledge based employment Must meet Toronto Green Standard and Employment Requirement

  22. IMIT Program Highlights • 18 applications in progress • 4.7 M sq. ft. in total space • $900M total investment value • 10,000 jobs • Manufacturing, Food & Beverage, Data Centre-IT, Film Studio, Corporate Office HQ, and Tourism

  23. Rexdale Employment District

  24. Woodbine Live! • Detailed engineering drawings are set to be completed in July • Pre-servicing approval by October and contract awards for GO improvements (shovel in the ground!) • Building permits by spring 2012 for Phase 1A (Live Venue, Hotel and 500,000 sq. ft of retail/entertainment) • Employment Centre operational late 2012 • Opening Phase 1A Oct. 2013

  25. Investment/Retention Highlights

  26. Molson Coors • Critical Timeline • 6 new fermentation tanks • $24M

  27. Cool Rexdale

  28. Company Highlights KIK Custom Products Spec Furniture Lassonde Beverages KIK has utilized the Eco-Efficiency Program, hosted a Lean and Green Training Session that identified $60,000 in savings, and has become a member of the Sustainable Manufacturing Consortium. Lassonde utilized the Energy Co-Op Program, identified $240,000 in savings and has been recognized as a leading facility within their organization’s portfolio. Spec has utilized the Eco-Efficiency Program, diverted 75% of their waste saving over $15,000 and has joined the Sustainable Manufacturing Consortium.

  29. Cinespace "Etobicoke is an emerging film and television hub," said Mirkopoulos, who believes the development pressure in downtown Toronto will continue to push the film industry west of the city. June 2011 http://www.insidetoronto.com/news/local/article/1032966--kandahar-replicated-at-etobicoke-film-studio

  30. Strategic Priorities: 2011 and Beyond • Support entrepreneurship, small & mid-sized businesses • Engage Toronto’s diverse communities • Nurture a dynamic and diverse cultural sector • Stimulate economic revitalization in neighbourhoods • Facilitate exports and development of new markets • Support labour force development

  31. Keys to SuccessCollaboration, Synergies & Partnerships

  32. Comments & Questions ?John AlderdiceSenior Business Development Officer 416-392-1004jalderd@toronto.ca

More Related