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The Toronto Region also is a global leader in competitive research and development. Canada offers some of the most generous R&D tax incentives of any industrialized country, and corporate income and capital taxes are lower than in the US. Overall, the Toronto Region's cost advantage relative to the US is significant.
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COMPETITIVE COSTS
April 2010 © Toronto Region Research Alliance
THE TORONTO REGION IS …
• A global leader in competitive R&D costs – 14% less expensive than Tokyo, 8% less than Frankfurt,7% less than New York, and 6% less than London in 2009 (KPMG 2010)
• The source for some of the world’s most generous R&D tax credits, surpassing G7 countriessuch as Japan, United .Kingdom, United States, and Germany
• Located in a business-friendly environment. Canada is:
• Ranked #1 for the soundness of its banking system by World Economic Forum, GlobalCompetitiveness Report 2008-2009
• Ranked #1 in number of procedures required to start a business by World Economic Forum,Global Competitiveness Report 2008-2009
• Ranked #2 in time required to start a business by World Economic Forum, GlobalCompetitiveness Report 2008-2009
• Ranked #4 globally for Ease of Doing Business by MasterCard Worldwide Centers ofCommerce Index (2008)
• Ranked #7in the global total tax index, and #3 in the R&D sector in the total tax index (KPMG, 2008)
• The site of the lowest health expenditures as a percentage of GDP of all G7 countries
• An affordable city that has a lower cost of living than Tokyo, London, New York and Hong Kong(Mercer Cost of Living Survey, 2009)
• Close to US – offering low transportation costs to large North American markets
• Supported by well-developed transportation and telecommunications infrastructure
• A venue with varied location sites from Central Business District to economical ex-urban areas
Dallas
Chicago
Houston
Paris
Boston
Raleigh
San Diego
London
New York City
Frankfurt
Tokyo
Toronto Region 95.8
96.4
97.7
97.9
98.8
100.1
100.8
100.9
101.7
102
103.6
108.9
Cost Index: 100 = US Average
Source: KPMG Competitive Alternatives 2010
Low Operating Costs for Research and Development
Ontario 7.2
8.1
8.4
8.7
10.1
10.4
11.0
16
United Kingdom
Japan
Italy
Canada
Germany
France
United States
Health Expenditure as a per centof GDP, Ontario vs. G7 – 2007
Source: OECD Health Data 2008,investontario.com, 2009
Contact the Toronto Region Research Alliance at 416-673-6670 or visit www.trra.ca
ADDITIONAL SUPPORT
Grants and loans
• Ontario Advanced Manufacturing Investment Strategy(AMIS)
• Ontario Market Readiness Program
• Federal Industrial Research Assistance Program (IRAP)
• Federal Sustainable Development Technology Canada
• Federal Technology Partnerships Canada
OTHER SUPPORT
• Ontario Centres of Excellence
• Regional Innovation Networks
• Industry liaison initiatives from regional Universities,Colleges, Hospitals and Institutes of Technology
“Ontario gives us access tohighly skilled engineers andsome of the most attractiveR&D incentives anywhere.”
Robert Schad, Founder, Directorand Senior Advisor, Husky
Source: Mercer Cost of Living Survey 2009
LOW COST OF LIVING
2009 Rank
1 Tokyo
3 Moscow
5 Hong Kong
8 New York
10 Singapore
12 Shanghai
13 Paris
16 London
47 Munich
66 Mumbai
85 Toronto
France 123.9
100.0
85.9
84
80.6
77
76.1
Japan
Canada
United Kingdom
United States
Italy
Germany
GENEROUS R&D TAX CREDITS
Relative Generosity of R&D Tax Incentives
Source: Think CANADA 2010
