New agency targets foreign investment in Toronto

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Ministry of Economic Development and Growth, the Cities of Toronto, Mississauga, and Brampton, and the regional municipalities of Halton, York and Durham announced the launch of Toronto Global—an investment attraction agency dedicated to showcasing and leveraging the unique, multi-sector strengths of the Toronto Region to drive Foreign Direct Investment (FDI) and growth—on Feb. 3.

As part of the announcement, all three levels of government committed $19.5 million in funding over three years to enhance the business attractiveness of the Toronto Region when competing against other major global cities like New York, London, San Francisco, Singapore and Shanghai.

“Toronto Global is the product of a shared vision – to create an engine of growth for the Toronto Region,” said Mark Cohon, Chair of the Board of Toronto Global. “It’s time to put our modesty aside and proudly show the world what we all know to be true – the Toronto Region is one of the best places to live and work.”

Toronto Global’s team of experienced business advisors will promote the business value proposition of the entire Toronto Region to international investors under one umbrella, one brand, and one unified message. Their work will promote the region’s strong, stable and diverse economy to attract FDI in targeted industries, as well as ensure a smooth transition for international companies wishing to do business in the region. Importantly, the agency will provide the Toronto Region with the capacity and capabilities required to continue competing as a world-class city.

“Our region’s strengths are starting to be known around the world. The time is now to build on that momentum by investing in the people and tools needed to highlight all that we have to offer to international investors,” said Toby Lennox, CEO of Toronto Global. “Toronto Global is pulling together the right team and networks to expand our global reach.”

In partnership with the governments of Canada and Ontario, the Cities of Toronto, Mississauga, and Brampton, the regional municipalities of Halton, York and Durham, and with the support and active participation of the region’s thriving and growing business community, Toronto Global will work to make the Toronto Region the most attractive destination in the world for business investment.

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