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In addition to these targets, we focused our efforts on sourcing impact deals – those that not only contribute significant numbers of jobs and investment dollars to the regional economy, but also contribute to achieving regional economic development objectives, such as meeting climate change targets; building supply chain resiliency; and supporting cluster development. We are proud to say that despite the global economic context, Toronto Global was able to deliver strong results for the region that met or exceeded our target ranges and objectives.
Every job created, and dollar invested by one of Toronto Global’s client companies, catalyzes subsequent business activity, which helps to create additional jobs, and makes a significant impact to the Ontario and Canadian economies. We used Statistics Canada’s Multi-Regional Input-Output (MRIO) model to quantify that impact and showcase the direct and indirect contribution that investments, facilitated by Toronto Global, have made to job and GDP growth in Ontario and Canada.
Source: Statistics Canada, Interprovincial Input-Output Model (2016), based on Toronto Global investment wins 2017/2018 to 2020/2021
2020-21 represented an incredibly challenging year for Toronto Global and the Toronto Region as a whole. As international borders closed, travel was restricted, and supply chains disrupted, the ability for global firms to expand internationally was reduced significantly.
Despite that, we worked to ensure global firms kept the Toronto Region top of mind for their growth plans. In all, we secured a number of highly competitive new investments, 22 in all, accounting for 1,287 new jobs and over $291 million in new capital expenditure (CAPEX), including firms like Plug and Play, Cerebras Systems, and HCL Technologies.
While these results were lower than previous years, we continued to see strength in our pipeline, with the size of our investments – both in terms of jobs and CAPEX – increasing by 18 and 34 per cent respectively compared to 2019-20. Additionally, the sector diversity of our pipeline continued to increase. On average, we saw more investments in key sectors like life sciences, advanced manufacturing and research and development-intensive technology projects than in previous years. Investments in these areas represented larger economic multipliers that built on key clusters across the Toronto Region and continued to enhance our international reputation.
In line with this, we continue to prioritize a core pillar of our investment strategy of working to spread the economic impact of new investments across the region. We launched major initiatives like our Regional Campaigns, that promote competitive advantages, and world-leading assets across the Region to a global audience, helping us land 44 per cent of new jobs created and almost 40 per cent of capital dollars invested in locations outside of the 416 area code in the Toronto Region - a testament to the importance of our regional value proposition to international investors. Increasingly, these investors continue to seek access to the Region’s unparalleled and highly skilled talent pool, quality of life, innovation capacity, and increasingly, integration into the region’s manufacturing supply chain.
Looking forward, as the tailwinds of the global pandemic continue, our goal remains the same: supporting our partners, funders and residents of the Toronto Region by attracting new economic investment that helps our economy grow and ensuring Toronto Global leads the charge in our region’s recovery.
Website sessions have doubled since launching the SEO strategy in August 2020.
Prior to September 2020, we saw no organic goal conversions. However, we have observed 315 overall goal completions organically since September 2020.
The number of top 10 keywords is now 442 as compared to 297 in August 2020.
Website Performance - From All Channels
Goal Completions: 1,799 [Conversions or Calls to Action (CTA) completed – forms filled, clicks to call or email, etc.]
Conversion Rate: 0.45% [Number of visitors to the website that complete a desired goal (conversion) out of the total number of visitors]
1 Direct traffic is defined as website visits that arrived on your site either by typing your website URL into a browser or through browser bookmarks.
2 Social traffic refers to traffic coming to your website, mobile site or mobile app from social networks and social media platforms.
3 Referral traffic is Google's method of reporting visits that came to your site from sources outside of its search engine. When someone clicks on a hyperlink to go to a new page on a different website, Analytics tracks the click as a referral visit to the second site.
