Mayor David Miller unveiled Toronto's plan for long-term prosperity on Wednesday, which lists a number of recommendations that include improving the city's marketing strategy for business and tourism.
Miller commissioned the "Agenda for Prosperity" report one year ago, and 26 business and labour leaders, and academics, contributed to the 220-page document.
and 26 business and labour leaders contributed to the 220-page document.
The plan includes 40 recommendations, including:
- Restructuring the city's economic development division
- Cutting the red tape in the business approval process
- Hiring a strategic analyst to work out of the mayor's office
"(The plan aims to) improve the health and vitality of the community and position Toronto as the leading global city of the 21st century," Miller said at a news conference.
"It's a framework designed to foster private and public reinvestment in Toronto's economy through four pillars."
The four pillars are:
- Business Climate -- Improve the business climate within the city to enable, accelerate and attract economic growth
- Internationalization -- Diversify Toronto's international portfolio by substantially increasing economic activity with cities beyond North America with a focus on emerging markets.
- Productivity and Growth -- Anchor and expand strategic industry sectors through increased competition and collaboration
- Economic Opportunity and Inclusion -- Enhance and expand Toronto's labour force and ensure that all residents have equitable access to the benefits of Toronto's enhanced economic competitiveness and growth
Council's economic committee will review the plan on Thursday. City staff will then examine the document, prioritize the recommendations and estimate the cost of implementing any of the ideas.
With a report from CTV Toronto's Alicia Kay-Markson
