The Economic Development Committee
pursues public policy initiatives to encourage regional economic growth, commercial development and investment. Its goal is to improve job creation and productivity in globally competitive industries, and leverage this growth to improve quality of life throughout the region. The Committee examines municipal, regional, provincial and federal economic development initiatives in the Toronto region and provides insight and support on how to improve them. In addition, the Committee launched a business-led Industry Cluster Strategy
, providing a new framework for our economic growth. Currently, the Committee is focused on shaping the Human Health Sciences Cluster Strategy.
Enhancing prosperity for the Toronto region
Our policy initiatives on regional economic development are built on a foundation of research, analysis and collaboration. Through our groundbreaking annual Scorecard on Prosperity
we benchmark the Toronto region’s economic performance against 23 of the world’s leading global cities. This report helps the business community gain a current understanding of our key competitive advantages and challenges.
Our current priority is to ensure that all corners of the rapidly growing Toronto region are working collaboratively to achieve our shared goals of growth and innovation. To achieve this goal, we are advancing an alignment around a business-led cluster initiative. Our efforts are built on the success of the Toronto Region Economic Summit
to enhance the competitiveness of the Toronto region's key industry clusters.
Toronto region Industry Cluster initiative
Business Takes the Lead: Collaborate to Compete
Download Economic Summit Report
Download Summit Executive Summary
Working together, we are writing the next chapter of Toronto’s story of success. By collaborating through unique cross-sector partnerships, we are bringing together senior leaders from business, academia and labour to tackle common challenges and seize new opportunities for growth. This foundation of trust will allow us to build a truly regional economic strategy and make the Toronto region a global hotspot for innovation and prosperity.
Board Supports Aerospace Cluster in Letter to Transport Minister Garneau
The Board recommends the government accelerate the rollout of an aerospace cluster strategy which could serve as a pilot for the government's new approach to trade and innovation strategy.
Read the Full Letter
|Business can lead a unified vision for the GTA
John Honderich, Toronto Star
Economic clusters will drive growth: economist
Rahul Gupta, Toronto Business Times
Prosperity scorecard measures how cities foster business hubs
Richard Blackwell, Globe and Mail
Collaboration and competition help business clusters foster innovation and growth
Richard Blackwell, Globe and Mail
Carol Wilding discusses Shifting Into High Gear on SqueezePlay
Pull together for GTA growth
Toronto Star Editorial
||"It is time the Toronto region spoke to the world with one voice. In an increasingly competitive global marketplace, our fragmented economic efforts are an impediment to the Toronto region’s prosperity."
Johnnie-Mike Irving, Managing Director, Ontario Region, TELUS
"Business today is global. To compete on a world stage, cities must think and act globally as well. To take its rightful role with the world’s other leading metropolitan cities, Toronto must adopt a strategy for strong regional economic coordination."
Scott Jolliffe, Chair & CEO, Gowlings LLP
"Our partners at the Toronto Region Board of Trade have hit the mark with the focus on strong regions and job growth. Strong regions, like Toronto, are the building blocks of strong provinces and a strong Ontario means a strong Canada."
Carol Stephenson, Dean, Richard Ivey School of Business,
The University of Western Ontario