From financial technology to food processing, Ontario ranks high in key sectors Business Facilities magazine recently released its 2021 Metro and Global Rankings Reports, and Ontario cities rank highly on numerous lists. Business Facilities is a leading full-service media brand specializing in the site selection marketplace. Toronto, Ontario debuts in the rankings as the 5th best startup ecosystem This year Toronto bursts into the best startup ecosystem rankings for the first time, landing in the top five. Ontario’s startup ecosystem is uniquely collaborative among companies and firms, with corporate, academic and government partnerships and a skilled, educated and diverse workforce. The province’s quality of life is unparalleled, and the eclectic cultural scene is attracting new talent. Several incubators and accelerators support Toronto’s thriving startup ecosystem: MaRS, the world’s largest urban innovation hub that helps startups in the health, cleantech, fintech and enterprise sectors; Creative Destruction Lab (CDL), a non-profit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies; JLABS, Johnson & Johnson’s first life science incubator situated outside of the U.S.; and DMZ, Canada’s top university business incubator that assists startups and entrepreneurs worldwide. Toronto, Ontario is a top 3 global fintech leader This year, Toronto’s fintech sector ranks third among other cities around the world. With nearly 700 fintech companies in the country, almost 60% of these businesses reside in Ontario. Toronto is the heart of fintech in the province, with the headquarters for Canada’s four largest banks, eight major Canadian asset managers and 80% of all foreign banks operating in the country. With bountiful tech-educated workers and one of the world’s most sound banking systems, this global city of the future is truly an attractive destination for fintech companies anywhere in the world. Brampton, Ontario remains the top food processing city in the world For the second year in a row, Brampton, a city of the future, reigns as the best city in the world for food processing. This consistent ranking comes as no surprise—Ontario’s food and beverage processing sector is the largest in the country, with a rich agriculture base and a strong workforce of over 95,000 people. Brampton accounts for 37% of Canada’s food processing industry’s revenue, contributing $1.3 billion annually to Canada’s GDP. With 8,500 workers employed at companies such as Coca-Cola Bottling and Loblaws, Brampton offers food testing, processing and packaging facilities, transportation, packaging design, equipment and refrigeration storage, making the city a food processing powerhouse. A magnet for businesses in every corner of the world Global companies from all sectors flock to Ontario to invest, as evidenced by Ontario’s rise to third place for foreign direct investment (FDI) for projects and capital investments. The province’s highly innovative environment has not gone unnoticed—tech giants such as Netflix and TikTok have recently tapped into the talented workforce that Ontario has to offer. Ontario is also the perfect habitat for the burgeoning electric vehicle (EV) industry. With an ideal climate created by an abundance of critical materials, an ethical supply chain and support from the provincial and federal governments, automotive powerhouses like Stellantis (formerly Fiat Chrysler Automobiles), General Motors and Ford have expanded their EV manufacturing to Ontario. Ontario is open for business—here’s how Invest Ontario will show you in Invest Ontario, led by Interim CEO Trevor Dauphinee, is the new agency to help businesses and investors around the world leverage the opportunities that Ontario has to offer. The agency assists companies seeking expansion opportunities and helps future-focused organizations realize their strategic business growth in the province. Learn more about the services Invest Ontario can provide to you.
spotlights14 AI companies to watch in 2022-23AI companies in Ontario are innovating at an astonishing pace across all industries. Their success represents an attractive investment proposition for companies... spotlights2022 Investment RoundupIn 2022, we saw billions in investments in the automotive, advanced manufacturing and life sciences industries in Ontario, Canada.... Press ReleaseCanada’s First All-Electric Vehicle Manufacturing Facility Opens in OntarioWith support from the province, GM Canada has transformed its CAMI manufacturing plant into an all-EV manufacturing facility, the first of its kind in Canada.... Press ReleasePointsBet opens Canadian headquarters in Toronto, OntarioLeading iGaming company, PointsBet, has opened its Canadian headquarters in Toronto, which will serve as a technology innovation hub and home to 50 new jobs.... success storiesWhy India’s L&T Technology Services is engineering solutions in OntarioWhen it decided to nearshore its North American R&D, India’s L&T Technology Services looked for a robust tech ecosystem—and found it in Toronto, Ontario.... success storiesIndian multinational IT giant Zoho expands to Ontario, CanadaMajor Indian IT company Zoho recently expanded into Canada, opening its first office in Cornwall, Ontario.... success storiesWhy tech leaders are tapping the STEM talent pipeline in North Bay, OntarioAward-winning cloud solution provider ThinkOn selects the “Gateway of the North” for its $4M Global Command and Cyber Security Operations Centre.... spotlightsInflation Reduction Act and its impact on Korean automotive investment in OntarioSince supply chain disruptions caused by the pandemic and U.S.–China trade war, Korea has been working with Canada to source core raw materials for EV batteries.... Press ReleaseNokia selects Ottawa, Ontario as their Canadian home for R&D in 5G, artificial intelligence and machine learning, and cybersecurityNokia’s investment in the Ottawa region will lead the way for R&D in telecommunication equipment and infrastructure in Canada.... InterviewAfter years of decline, the auto industry in [Ontario], Canada is making a comebackIn the final installment of his two-outlet mini-series, National Public Radio’s HJ Mai reports on Ontario’s transition towards electric vehicles and building on Canada’s automotive... spotlightsOntario reclaims the title as the best place in Canada to investOntario receives Site Selection Magazine’s Canadian Competitiveness Award for sixth time in seven years.... success storiesLe Boat's tourism expansion flourishes in Ontario, CanadaCanal boating company Le Boat finds exceptional support in navigating its expansion into Ontario, Canada’s advantageous tourism market....
