Invest Toronto Inc. (Invest Toronto) engages the private sector in marketing and promotion activities to increase business investment and create desirable jobs in Toronto.  Invest Toronto pursues its mandate through marketing business investment in targeted industries, conducting trade missions and coordinating with other governments.

Follow this link for information on the Board governance structure for Invest Toronto Inc.

Invest Toronto’s mission is to:

  • win business investment into Toronto and secure corporation expansions and re-locations, including foreign direct investment;
  • foster effective business and institutional partnerships within Toronto;
  • provide decision-makers with intelligence and expertise on Toronto’s global opportunities, sectors, and niches;
  • coordinate the positioning of Toronto for the long term;
  • identify opportunities to advance Toronto’s presence in associated global markets;
  • lead effective local teams to pursue and secure opportunities; and
  • improve the local and regional effectiveness of global economic promotion of Toronto.

On July 12, 2016 City Council approved the City of Toronto’s participation in Toronto Global, a new Foreign Direct Investment Regional Agency. A further report will be submitted to City Council once a recommended transition approach has been finalized.

Invest Toronto is bringing its best practices and insights to Toronto Global while maintaining client support to ensure seamless transition for potential investors. Relationships built by Invest Toronto over the last six years will continue to be nurtured to promote the business attributes of the entire region.

2016 Service Overview

Invest Toronto provides a complimentary concierge service for businesses, offering one-on-one consultations to help facilitate foreign direct investment decisions and assisting in navigating through the transition process.

Invest Toronto helps foster effective business, institutional, professional and government partnerships, and provides coordinated access to leaders and other influencers to enable the success of business investments in Toronto. It facilitates and guides businesses through the set-up and site selection process, providing detailed data and analysis and access to effective tools to help enable decisions and access the city’s markets, talent and resources.

As highlighted in the 2015 annual report, Invest Toronto has been active not just promoting Toronto but also bringing in foreign direct investment. This included:

  • Engaging with 172 foreign direct investment (FDI) opportunities which represented potential investments in Toronto and the Greater Toronto Area (GTA).
  • Facilitating 25 new investments in Toronto and the GTA including Biolab Farmaceutica, JLABS, Nanoleaf, Northeastern University and Soho Media.
  • Developing the regional economy by creating jobs and attracting new capital:
    • 117 immediate jobs, increasing to 287 within the next two to three years;
    • A $12,870,000 contribution to GDP, increasing to $31,570,000 within the next two to three years;
    • Occupying 76,806 square feet of office and manufacturing space in the region; and
    • Generating $913,032 in property taxes.

 

2015 Audited Financial Statements

Summary Statement of Operations ($000’s)

Year ended Dec. 31, 2014 Year ended Dec. 31, 2015
Revenue:
Operating Grant from TPLC*

2,642

2,336

Amortization of deferred contributions

51

48

Sponsorship

125

0

Invest Canada – Community Initiatives (ICCI) contribution

65

116

Other

6

3

 

Operating Expenses:
Salaries and Employee Benefits

1,787

1,418

Professional Fees and Project Costs

84

296

Office rent and office expenses

485

445

Promotion and Marketing

359

197

Other expenses

174

147

 

Operating surplus/(loss)

0

0

*Note: Given the nature of the different operations of Toronto Port Lands Company (TPLC) and Invest Toronto, TPLC reports under an International Financial Reporting Standard (IFRS) accounting and Invest Toronto reports under public sector accounting standards. This difference in reporting standards results in different presentation formats on the respective audited annual financial statements. The TPLC capital grant to Invest Toronto is amortized over the useful life of the specific capital asset and reflected in the amortization line of the Invest Toronto operating statement.