By the Numbers

A commanding performance.

A commanding performance

Key Highlights

1

Tax Revenue Generated

$
580
M
CAD

Since launch, Toronto Global has generated an estimated $580M CAD in tax revenue for Municipal, Provincial and Federal governments, representing an unprecedented return on investment for all levels of government.

2

Investment Projects to Date

202

Since 2017, Toronto Global has landed 202 investment projects, creating 12,222 jobs in the Toronto Region. These investment projects represent new international investments and/or new mandates for global companies in our region that not only bring new opportunities, but expand our domestic companies supply chains and customer base.

3

New Jobs Created

2,469

In 2021/22, we facilitated the creation of almost 2,500 direct new jobs and almost 3,500 indirect jobs in the Toronto Region, and almost 40 per cent of those jobs were created by companies locating in the 905. This reflects a trend in the last few years that puts quality of life and hybrid work options at the centre of decision making, affording more opportunities for investments across the region.

4

New Capital Invested

$
640
M
CAD

Last year, our clients invested nearly $640M into our regional economy – the highest 12-month total facilitated by Toronto Global, ever. This reflects the investment that companies are making in our futureproofed talent pipeline across the region and the growing status of the Toronto Region in global investor circles.

5

Digital Impressions

90
M

In 2021/22, the number of people that viewed our digital ads (impressions) reached almost 90M. Building up increased awareness of the value proposition of the Toronto Region is an important component of expanding our opportunities and targeting our prospecting for new international investments.

Executive Summary

Reaching New Heights

New Jobs Created: Last year, we facilitated the creation of almost 2,500 direct new jobs in the Toronto Region, the most ever in the short five-year history of our organization. Importantly, these are high quality, net new jobs that typically pay above averages wages – adding to the prosperity and growth of our region.

New Capital Invested: As part of their expansion, those same global firms who expanded to Toronto invested nearly $640 million dollars into our regional economy – the highest 12-month total facilitated by Toronto Global, ever – 90 per cent higher than in 2020-21. You can see it in the sky – Toronto continues to have the most cranes in the sky of any North American city.

Investment in the 905: Almost 40 per cent of those jobs were created in the 905, in burgeoning clusters outside of the City of Toronto. Companies like Astera Labs, Autocrypt, and Outcast Foods located in strategic clusters across the GTA. It’s this alignment between local innovation ecosystems and talent pools with global firms seeking to expand their own innovative capacity that highlights the impact of our work.

The Changing Need of Business

One of the post-pandemic realties is that workers and firms have more flexibility in how and where they want to work. While some need large physical footprints, others are choosing to work virtually. We’ve secured a number of remote-working operations in the Toronto Region – operations where the company has incorporated, established operations, and has hired a defined team who work in the Toronto Region. While this represents less than 5 per cent of the new jobs created, it serves as a valuable opportunity to study the economic impact associated with this type of work.

Businesses are also facing headwinds from supply chain disruptions and talent shortages globally, and we’re working to solve both with teams and programming dedicated to solving these challenges.

Looking Forward

At Toronto Global, we’re working with the world’s most innovative, impactful, and fast-growing companies – virtually and in-person. Like the businesses we work with, we’re firing on all cylinders – and have the numbers to back it up. A huge congratulations to the Toronto Global team, our partners, and stakeholders on a successful 2021-22!

Metrics to Date

Investment
Projects

202
32
*
2022/2023
39
2021/2022
22
2020/2021
49
2019/2020
33
2018/2019
27
2017/2018

Direct Jobs
Created

12,222
2,527
*
2022/2023
2,469
2021/2022
1,287
2020/2021
2,441
2019/2020
2,299
2018/2019
1,199
2017/2018

Total Capital Expenditure

$
2.54
B
CAD
$
640
M
CAD*
2022/2023
$
639
M
CAD
2021/2022
$
291
M
CAD
2020/2021
$
482
M
CAD
2019/2020
$
300
M
CAD
2018/2019
$
195
M
CAD
2017/2018

Tax Impact

$
580
M
CAD*
$
136
M
CAD
2021/2022

*As of October 27, 2022

Toronto Global Economic Impact To Date

Every job created, and dollar invested by one of Toronto Global’s client companies, catalyzes subsequent business activity, which helps to create additional jobs, and makes a significant impact to the Ontario and Canadian economies. We used Statistics Canada’s Interprovincial Input-Output (I-O) model to quantify that impact and showcase the direct, indirect, and induced contribution that investments, facilitated by Toronto Global, have made to job and GDP growth in Ontario and Canada.

Total Tax Revenue Impact by Level of Government (2017-2022)

Amounts in CAD

Source: Statistics Canada, Interprovincial Input-Output Model (2018), Table: 36-10-0221-01 and 36-10-0450-01, Thomson Reuters Personal Income Tax Calculator. Figures are based on Toronto Global investment wins 2017/2018 to 2021/2022

$97M
CAD

in taxes paid annually on average by businesses and employees.

$2.5M
CAD

in new taxes generated annually for every 100 jobs.

Total Jobs Created in Canada (2017-2022)

Direct
Indirect
Induced

Source: Statistics Canada, Interprovincial Input-Output Model (2018), based on Toronto Global investment wins 2017/2018 to 2021/2022

Total GDP Contribution (2017-2022)

Ontario
Canada
Amounts in CAD

Source: Statistics Canada, Interprovincial Input-Output Model (2018), based on Toronto Global investment wins 2017/2018 to 2021/2022

Wins by Location

416 location
905 location
Remote
investments
Jobs
capital Expenditure

Top 3 Industries
By Sector

Technology
Financial Services
Life Sciences & Health Care
Projects
Jobs
capital Expenditure

By Source Market

United States
Europe & United Kingdom
Asia
Other
projects
Jobs
capital Expenditure

2021/22 Results

Total
Investments

39

Working with global investors from a range of markets and industries, the Toronto Global team, assisted by our partners in the federal, provincial and municipal governments, facilitated 39 new investments in the Toronto Region in 2021/22.

Total
Jobs

2,469

Total number of jobs expected to be created within years 1-3 of operation.

Capital
Expenditure

$
639
M
CAD

Total investment amount within years 1-3 of operation.

Toronto’s
Got Talent

…and we’ve got it in spades. Discover how the Toronto Region’s colleges and universities are preparing the workforce of the future – fuelling a talent pipeline for international businesses that is second to none in the global economy.

Ontario Tech University

A leading institution in energy research, Ontario Tech University attracts top students to study in the fields of nuclear, mechanical, electrical and software engineering, materials science, chemistry and more.

Ontario Tech
University

York University
Markham Campus

With York University Markham Campus set to open in Spring 2024, York University is strengthening its position as a global education leader, ranking in the world’s top 35 in the respected Times Higher Education Impact Rankings.

York University
Markham

University of Toronto

Canada’s top-ranked and largest university, the University of Toronto is one of only eight universities globally to place in the top 50 in all Times Higher Education subject rankings.

University
of Toronto

Toronto Metropolitan University Brampton

One of Canada’s largest postsecondary institutions, Toronto Metropolitan University (TMU), has committed to help the city of Brampton transform into the “cybersecurity capital of Canada.”

Toronto Metropolitan
University Brampton

UofT Mississauga

University of Toronto Mississauga has grown to be the second-largest division of U of T, with globally recognized facilities and research, such as the Centre for Medicinal Chemistry.

University of
Toronto Mississauga

Sheridan College

With three locations across the Toronto Region, Sheridan College is home to an award-winning visual effects, animation and game design school and the leading Centre for Advanced Manufacturing and Design Technologies.

Sheridan
College

Map of Toronto

Toronto's
Got Talent

…and we’ve got it in spades. Discover how the Toronto Region’s colleges and universities are preparing the workforce of the future – fuelling a talent pipeline for international businesses that is second to none in the global economy.

University of Toronto

Ontario Tech University

York University Markham Campus

Sheridan College

University of Toronto Mississauga

Toronto Metropolitan University Brampton

Preview next section