Item - 2018.ED30.5

The Economic Development Committee received the report (May 28, 2018) from the General Manager, Economic Development and Culture for information.

Between April 10 and 12, 2018, Councillor Michael Thompson, accompanied by one staff member from the Economic Development and Culture Division (EDC), undertook a business / study mission to New York City (NYC). This mission was a follow-up to Mayor Tory's mission to NYC in the fall of 2017. 

The purpose of the mission was to study how the New York City Economic Development Corporation (NYCEDC) delivers economic development programs equitably across the five boroughs; share best practices on international relationships; explore and enhance trade opportunities for Toronto based small and medium size enterprises (SMEs) in NYC; and explore the concept of a Toronto/New York innovation corridor.

Meetings were held during the mission to build relationships with local organizations, Global Affairs Canada representatives, the Ontario International Trade Office, local government officials and various channel partners who could assist in expanding trade opportunities for Toronto-based SMEs.

This mission is aligned with and supports City Council's objectives as stated in the International Trade Funding report designed to enhance Toronto's international engagements and economic trade activity in priority markets.

This report provides a high-level summary of the mission with highlights of the various meetings that occurred during the mission and next steps.