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03 Jan 08

High marks for Toronto confirms quality of life amongst best in the world

Via Spacing Wire Toronto, the press release from the City of Toronto, announcing that T.O. was named by Standards & Poor one of the top 10 cities in the world in which to live. What's of real interest for other Canadian cities is Mayor David Miller's insistence on a more innovative & equitable relationship between the city and "senior levels" of government (feds & provinces -- interestingly, he calls them states). He calls, among other things, for a 1 percent cut of the GST.

wx.toronto.ca/...0597bed0eb37cd852573c200578721 - Preview

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The most recent ranking came from Standard & Poor’s 2007 Industry Report Card that ranked Toronto as one of the top 10 economic centres in the world. Selected from more than 15,000 local, state, and regional governments in the United States, and more than 340 others in 27 countries, Toronto’s role as a major economic hub in Canada, its depth of services, and deep and well-diversified economy has earned the city top marks. Toronto joins Chicago, London, Los Angeles, Madrid, Milan, Moscow, New York City, Paris and Yokohama on the list. All cities considered have a population of more than one million.
Our successes in securing a New Deal for Toronto, improving access to our waterfront, laying out a bold plan to tackle climate change, revitalizing major infrastructure such as Nathan Phillips Square and Union Station, and keeping our streets and public places clean and beautiful are what make Toronto a city that is liveable, prosperous and provides opportunity for all.

“But, we can't rest on our laurels,” Mayor Miller continued. “One of the things all of the world’s great cities have in common is a strong relationship with their state and federal governments. The most successful communities are those that receive the support they need from the other orders of government in their country, and share the responsibility for building and maintaining a high quality of life. In order to maintain the quality of life that Torontonians expect and deserve, this city needs meaningful partnerships with the federal government to deliver a national transit strategy and further to provide all of Canada's municipalities with a share of revenues that grow with the economy - like the equivalent of one cent of the GST.”
- - excellent - on 2008-01-03
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- A further testament to Toronto’s success is the number one ranking in the quality of life category the city received earlier this year from Foreign Direct Investment (fDi) magazine as part of its 2007 North American Cities of the Future index. One hundred and eight cities were evaluated on economic potential, cost effectiveness, human resources, quality of life, infrastructure, business friendliness, development and investment promotion. The April edition of fDi magazine put Toronto second only to Chicago as the 2007 North American City of the Future.
- KPMG’s 2006 Competitive Alternatives study found that Toronto offers one of the most cost-effective business and investment climates in the world. When compared to the city’s prime competitors - large North American cities with a population of more than two million - Toronto has lower overall business costs than 18 of the 19 large U.S. cities that were considered; Atlanta is the lone city with lower business costs, by just 0.1 per cent. Toronto ranks ahead in cost competitiveness against such U.S. cities as Boston, Chicago, Dallas, Detroit, New York, and San Jose, and global cities such as Amsterdam, Frankfurt, London, Paris, Turin, and Yokohama. The KPMG study measured 27 cost components, including labour, taxes, real estate, and utilities as applied to business costs in nine countries, and 128 cities.
- The Economist Intelligence Unit (the Economist Magazine) ranked Toronto fifth in the world for liveability. The December 2006 study surveyed 132 cities. Low crime, little threat from instability or terrorism, and a highly developed transport and communications infrastructure helped Toronto make the top five most liveable cities in the world.
- Much of Toronto’s success as a liveable city can be attributed to the city’s creative and culturally diverse residents. In 2006, the Canadian Institute for Research on Public Policy and Public Administration at the University of Moncton released a research study that used Professor Richard Florida’s four indices to measure Canadian cities and determine their Creative Class ranking. They are: the Mosaic Index (the percentage of the population that is foreign-born); the Tech Pole Index (the city’s degree of specialization in technology-intensive activity); the Talent Index (the percentage of the population, 20 years and older, with a bachelor’s degree); and the Bohemian Index (the number of people employed in artistic and creative occupations). Toronto ranked first for mosaic, first for tech pole, second for talent (after Ottawa-Hull), and third for bohemian.