Item - 2020.EC11.8

Tracking Status

This item was considered by Economic and Community Development Committee on January 14, 2020 and was adopted with amendments.

EC11.8 - New York City Mayor's Mission 2019

Decision Type:: ACTION

Status:: Amended

Wards:: All

Committee Decision

The Economic and Community Development Committee:

1. Forwarded the report (December 30, 2019) from the General Manager, Economic Development and Culture to the Film, Television and Digital Media Advisory Board.

Origin

(December 30, 2019) Report from the General Manager, Economic Development and Culture

Summary

The United States of America continues to be a key market for Toronto in terms of investment and trade. New York City (NYC), with its prominent financial services sector, is the USA's strongest base for potential investment into Toronto.

Mayor Tory led a short mission to New York City from November 6-8, 2019, accompanied by staff from Toronto Global, Toronto Financial International (TFI), and the Economic Development and Culture Division. Following on the Mayor's mission to NYC in November 2017 and Deputy Mayor Thompson's mission to NYC in April 2018, this mission provided an additional opportunity for Mayor Tory to advance the growth and talent attraction narrative for Toronto's financial and technology sectors and promote Toronto's interests in New York City. The primary objectives of Mayor Tory's mission were to engage with industry leaders from the financial services and technology sectors, to promote Toronto as an opportunity for foreign direct investment (FDI), to seek export opportunities for Toronto businesses, to strengthen existing partnerships and to further the City of Toronto's economic connections to NYC. This mission is aligned with the objectives of the International Trade Funding report approved by City Council.

This report provides a high-level summary of the mission, providing highlights of key mission activities and next steps.

Background Information

(December 30, 2019) Report and Attachment 1 from the General Manager, Economic Development and Culture on New York City Mayor's Mission 2019
https://www.toronto.ca/legdocs/mmis/2020/ec/bgrd/backgroundfile-141469.pdf

Motions

1 - Motion to Adopt Item moved by Councillor Cynthia Lai (Carried)

2 - Motion to Reconsider Item moved by Councillor Shelley Carroll (Carried)

That in accordance with the provisions of Chapter 27, Council Procedures, Economic and Community Development Committee reconsider Item EC11.8.

3 - Motion to Amend Item moved by Councillor Michael Thompson (Carried)

That:

1. Economic and Community Development Committee forward the report (December 30, 2019) from the General Manager, Economic Development and Culture to the Film, Television and Digital Media Advisory Board.