Renewing the City's Partnership with Toronto Global

A significant amount of these investment projects (74%) landed within the city of Toronto. At its meeting on April 6, 2022, City Council adopted a recommended three-year revised funding agreement with the Greater Toronto Area Region Investment Attraction organization (operating as Toronto Global) ending on March 31, 2025. Subject to continued funding contributions for Toronto Global from the governments of Ontario and Canada at no less than current levels, this report recommends that the City of Toronto renew its funding agreement with Toronto Global to strengthen collaboration and expand marketing efforts, in alignment with the Council-approved Action Plan for Toronto's Economy, for an additional three-year period ending March 31, 2028, at the following funding levels: $2.3 million (2025), $2.4 million (2026), and $2.5 million (2027), for a total of $7.2 million over 3 years.

a minimum of three City of Toronto representatives on the Board of Directors of Toronto Global, including the Mayor of Toronto or designate appointed by the Mayor, the General Manager, Economic Development and Culture, and a third (and any additional) public member appointed by City Council. 2. City Council authorize the General Manager, Economic Development and Culture, to negotiate and execute a Funding Agreement with GTA Region Investment Attraction (operating as Toronto Global) in accordance with recommendation 1 and on such terms and conditions as are satisfactory to the City Manager and the Chief Financial Officer and Treasurer, and in a form approved by the City Solicitor.