We need to update old models and approaches to stimulating economic growth. All orders of government, federal, provincial and the City itself, need to reframe their thinking of Toronto - from an Ontario or Canadian city of note to one of a very limited number of world cities. Toronto is at a critical juncture. There is an urgent need to reinvest in the city in order to ensure sustained economic growth. Failure to recognize the changing economy and to improve Toronto's global competitive position by building on our unique attributes will negatively impact economic growth throughout Ontario and Canada.
People power the knowledge economy.
Today, economic growth is driven by knowledge, skills, innovation and entrepreneurship. At the source of all of these attributes are people. This strategy recognizes people as the primary focus for economic growth. The strategy expands our traditional economic development focus, to include new approaches to producing, preparing, retaining and attracting a labour force with the skills necessary for success in the knowledge economy. The proposed actions span a continuum, from raising skill levels in industry clusters where gaps are evident, to ensuring that Toronto is an attractive place for mobile knowledge workers and their families to live.