After a successful business trip to New York City, the Ontario government looked into new opportunities for investment and job creation and promoted the financial services, information technology, and life sciences industries in the province. Roundtable discussions with American businesses interested in expanding their presence in Ontario were a part of the mission, which was led by Minister of Economic Development, Job Creation, and Trade Vic Fedeli.
Minister Fedeli stated, “This mission was a chance to meet face-to-face with companies in the United States to discuss opportunities for business expansion and cross-border collaboration.” Major financial and IT hubs are Toronto and New York City. We are building on our strong relationships to provide businesses on both sides of the border with opportunities for expansion and the creation of additional well-paying jobs.
Ontario met with prominent firms in the financial services and information technology industries, as well as a number of software development firms, from April 10 to 12. This included getting together with Globant and Cockroach Labs, two software development businesses based in New York that just opened offices in Toronto. Globant’s expansion is anticipated to bring 200 highly skilled jobs to the province, as both companies are expanding their teams.
Stephen Lund, CEO of Toronto Global, stated, “We were pleased to join Minister Fedeli in New York City to promote the Toronto Region and Ontario – North America’s fastest growing technology market – to international investors.” We look forward to continuing to welcome these innovative new businesses to Ontario because the relationships we have established here in-market have resulted in thousands of jobs and significant investments in the regional economy.
A roundtable on foreign direct investment and meetings with executives from Citi, Crowdbotics, Fever, ThoughtFocus, Justworks, and Synechron were two additional highlights of the trade mission. The roundtable was an important chance to build on existing relationships and create new investment opportunities. With 300 New York-owned businesses operating in Ontario, bilateral trade between Ontario and New York was valued at close to $37 billion last year.
With its serious economy, top notch labor force, and cutting edge innovative work offices, Ontario keeps on being an ideal spot for organizations to contribute and develop.