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Business and Economic Development facts |
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Toronto, Canada's corporate capital and leading business address, is home to more nationally and internationally top-ranked companies than any other Canadian city. The city's business infrastructure makes modern business in Toronto seamless. In this era of inter-connected global business, Toronto, with one of the largest networks of fibre-optic cable of any North American city, has the technology and bandwidth to move information faster than the speed of modern business. Toronto's highly skilled, educated and multi-lingual workforce provides the knowledge and know-how to keep Toronto businesses ahead of the rest. View Invest in Toronto.
- The 2006 KPMG Report "Competitive Alternatives: A Comparison of Business Costs in North America, Europe and Japan" found Toronto to be at least 6.5 per cent less expensive than the average U.S city.
- Financial centre of Canada, 3rd largest in North America, employing 205,000 in financial sector
- Headquarters for 6 of Canada's top insurers that manage over 90 per cent of the industry's assets, 61 mutual funds companies, 58 pension fund managers, and 5 Canadian pension plans with combined assets in excess of $250 billion.
- Home to Canada's 5 largest banks, 50 foreign bank subsidiaries and branches, and 112 securities firms.
- Toronto has the largest concentration of private ICT facilities (100 or more employees) in Canada and the third largest in North America, behind San Francisco and New York respectively.
- Annual sales for the ICT cluster amount to over $32.5 billion, while the annual exports for this cluster are over $6.2 billion.
- The TSX Group - the third-largest stock exchange in North American and seventh largest in the world based on market capitalization - is the world leader in mining sector listings.
- Toronto's economy comprises 11% of Canada's GDP, topping $127 billion in 2005. More than 76,000 Toronto-based businesses export over $70 billion in goods and services to every corner of the globe with retail sales of $47 billion annually.
- The nation's largest employment centre, with one sixth of Canada's jobs, and strong employment in both manufacturing and service industries
- 180 million customers live and work within a day's drive of Toronto, including 125 million Americans or roughly 40 per cent of the U.S. population.
- Long distance lines are 100% digitally switched; long distance trunk lines are 100% fibre optic. Toronto has ISDN and ATM technology, fibre ring technology, dynamic routing, full common channel signaling capability and high capacity Internet access.
- Toronto is a world leader in digital microwave transmission, satellite communications services and data distribution networks.
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