A Framework to Advance Inclusive Economic Development in Toronto

This framework posits that inclusive economic development occurs when economic opportunities and outcomes improve across Toronto's population and neighbourhoods - including its Indigenous, Black and equity-deserving communities - in parallel to overall growth of the city and regional economy. Inclusive economic development refers specifically to municipal touchpoints with the labour market and Toronto business sectors, particularly focussed on supports for employment pathways, entrepreneurship and business development. This framework provides definitions of key terms that can be consistently used by City divisions and agencies. Further, it clarifies how existing initiatives being led by different divisions complement each other but also what gaps remain and what tools may not be available to municipal government. Finally, the report positions inclusive economic development as a necessary objective of the City's forthcoming Action Plan for Toronto's Economy (APTE), where further inclusive economic development actions will be specified.

2. City Council direct the General Manager, Economic Development and Culture, the Executive Director, Social Development, Finance and Administration and the General Manager, Employment and Social Services, in collaboration with other relevant divisions and agencies including the Toronto Public Library, to identify available metrics of economic inclusion/polarization across Toronto and include these in the City's Economic Dashboard and other reports to Council on city and regional economic development trends. 3. City Council direct the Interim Chief Planner and Executive Director, City Planning, when commencing new or updated Secondary Plans and associated community engagement processes, to consult with the General Manager, Economic Development and Culture, the Executive Director, Social Development, Finance and Administration, and the General Manager, Employment and Social Services on ways to integrate inclusive economic development and mitigation of commercial displacement into the area-based planning process and whether a parallel Community Development Plan process should be initiated jointly. 4. City Council direct the General Manager, Employment and Social Services and the General Manager, Economic Development and Culture, in consultation with the Executive Director, Social Development, Finance and Administration, and Chief Librarian, Toronto Public Library to formally align previous Council directions provided on workforce development with the inclusive economic development framework shown in Appendix A and report back in Q1 2025 on opportunities to better coordinate City-led workforce development initiatives in addition to collaborating with other orders of government with a focus on improving economic outcomes for low-income residents, social assistance clients and equity-deserving communities.