Press Release: GTMA Announces Big Changes for the Region

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FOR IMMEDIATE RELEASE

As one chapter prepares to close, a new one brims with possibility for the GTA

TORONTO, December 15, 2015 – In late November, 2015, the Greater Toronto Marketing Alliance (GTMA) held its quarterly Board of Directors meeting, the last one for this calendar year. Hosted at the offices of the City Hall of the City of Toronto, this meeting brought together representatives from the private and public sectors throughout the GTA. The Board learned about the new organization being created for the GTA as well as the results of the GTMA to date.   

Mayor David Ryan, Chair of the GTMA, explained that the GTMA will be moving out of its existing premises at the end of 2015 and will be sharing office space with Invest Toronto starting in January, 2016. With anticipated funding support from the Regional, Provincial and Federal governments, the new agency is being created to serve the Toronto Area.  “This new agency will increase our capacity and capabilities to attract business investment from across the globe to our Region” said Mayor Ryan.

The GTMA will continue to operate as usual until the end of March, 2016: exploring new investment markets, meeting with leads and prospects, carrying out client servicing and addressing the foreign direct investment (FDI) needs of the GTA.

George Hanus, President & CEO, delivered his FDI report to the Board that this has been the best year for the GTMA. To date 18 companies have confirmed their investments in the GTA. They are from Europe, USA, Latin America, and Asia. The Think Canada event in October was very successful and attended by 58 companies from Europe, the Middle East, Latin America and Asia. An additional 167 companies had been contacted and are active leads to be developed for the new organization next year. These and all leads that are in process with the GTMA will be transferred to the new organization to continue follow-up and client servicing.

At the meeting it was emphasised that the need for a regional approach to economic development is so critical to the growth of the region.  The organizational changes to come will benefit not only Toronto but also the region as a whole, reaffirming the optimism expressed earlier by Mayor Ryan.

“This is a tremendously exciting development” said Mayor David Ryan.  “Though it will mean that the new agency will replace the GTMA, I think it is important to recognize that without the vision of the GTMA, without the work of the GTMA, we would not be on the cusp of something bigger and greater.”

The new agency, which is yet to be named, is expected to open in April 2016.

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About the Greater Toronto Marketing Alliance (GTMA)

The GTMA is a public-private partnership between the 29 municipalities and regions in the GTA, together with the Provincial and Federal governments, other non-profit organizations and a cross section of private sector corporations. The Greater Toronto Marketing Alliance (GTMA) is the key point of contact for exploring business opportunities in the GTA.  With the resources of its public and private sector partners, the GTMA provides essential business information and site selection services to facilitate new foreign direct investment in the Greater Toronto Area. Visit www.greatertoronto.org for more information.

For further information contact:                                           

George Hanus, President & CEO
Greater Toronto Marketing Alliance, 350 Bay Street, Suite 1200, Toronto, ON M5H 2S6