Since 1995, CIBC Group Mortgage Plan has been a leading provider of relocation and subsidy mortgage programs in Canada, helping hundreds of corporations and their transferring employees save time and money. Content is subject to change without further notification. CIBC Group Mortgage Plan is an administrative division of CIBC. CIBC Cube Design & “Banking that fits your life.” are trademarks of CIBC. For more information, contact me today. Relocation Mortgage Solutions. Heather Lake-Wellington National Manager Group Mortgage Plan 416 945 6527 heather.lake-wellington@cibc.com BUSINESS FRIENDLY Overall, there are several economic advantages to setting up short- and long-term operations in the Greater Toronto Area (GTA). In addition to providing access to 130 million consumers within a 500-mile radius, the city’s proximity to major U.S. and international markets puts companies in a strong position to engage 482 million consumers across North America and 1.2 billion potential customers in Europe, thanks in large part to the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). Over a 10-year average, Sakas continues, the region has also provided businesses with competitive advantages in comparison to major global destinations in terms of operating costs (e.g., facility leases, transporta- tion and utilities, labour and benefits, digital services, etc.) and access to robust social programs like Ontario’s universal healthcare system. “Thanks to Ontario’s universal, single-payer public healthcare system, residents are afforded excellent medical care via the OHIP (Ontario Health Insurance Plan) program,” Sakas explains. “Basic services and doctors’ appointments are paid for, along with providing prescription medications for free to children and youth under the age of 25. This allows people to maintain a healthy quality of life without the financial burden.” These benefits and more are the reason why the Toronto region hosts nearly 40 per cent of Canadian corporate headquarters. ACCESS TO TALENT Talent is one of the city’s greatest assets. The GTA leads the way in STEM talent development, and recent moves by the provin- cial government are expected to expand that labour pool further. According to Toronto Global, the Ontario government has taken accelerated steps to make a firm commitment to businesses in the province by increasing the number of post-secondary students graduating in STEM disciplines by 25 per cent over the next five years and the number of master’s students graduating in applied artificial intelligence disciplines to 1,000 within five years. These efforts to build the workforce of the future are matched by a focus on attracting and retaining international talent. Recent statistics indicate that 39 per cent of residents in the Toronto region (51 per cent in Toronto alone) are born outside of Canada, compared to New York City’s 38 per cent foreign- born population. “Toronto is heralded as the most multicultural city in the world, and our labour force and economy benefit directly from our diversity and inclusivity,” says Sakas. “We build doors, not walls, and those doors open to highly-skilled economic immi- grants and international students who can easily become perma- nent residents and citizens.” In the latest Economist Intelligence Unit index of city rankings, Toronto was named “best overall” for quality of life and the safest metropolitan area in North America, which includes 50 hubs from around the globe. That ranking is due to a number of factors, not the least of which is the city’s vast array of integration services and support channels for relocated talent. Combined with a rich multicultural scene, endless entertainment options, and world-class business resources, the appeal to employers is clear. “The Toronto region is the most dynamic place to live in the world. No matter where you come from, you can find yourself here,” says Sakas. “[The city] provides endless opportunities for growth, a thriving market for businesses, and a superior stan- dard of living that is second to none.” DESTINATION SPOTLIGHT In the latest Economist Intelligence Unit index of city rankings, Toronto was named “best overall” for quality of life and the safest metropolitan area in North America Summer 2018 PERSPECTIVES 19