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

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

Toronto’s Diversified Economy

Occupation mix changing as well

Income Polarization

Year Unemployment Rate (%) Unemployment Rates Youth vs All

Canadian Cities Total Population 2006 Census

A Vision for Toronto Toronto, Ontario, Canada

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

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

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.

Global Toronto: Internationalization

Global Toronto

Creative Toronto: Productivity and Resilience

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

One Toronto: Opportunity and Inclusion

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

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”