The city of Toronto was officially named the second best “city of the future” in America thanks to its growing status as an international hub for investment, trade and innovation.
The Financial Times publication fDi Intelligence recently published its ranking of the largest cities of the future – a study of cities in North and South America that prove to be promising investment places.
The top 10 list consisted only of cities in Canada and the United States, and Toronto came out as both the best city in Canada and the second highest city in all of America. This is a place up from last year’s location.
According to fDi, Toronto is recognized for its smart investments in business development, culture, people and neighborhoods. Recent investments in the city from major international companies such as Netflix, Reddit, Twitter, Pinterest and DoorDash were all taken into account.
“The Toronto region is the largest technology hub in Canada and the fifth largest in North America with 24,000 companies employing 290,000 people,” fDi wrote in a press release. “Toronto is number two in North America (after only San Francisco) in the number of technical degrees-24,083 between 2014-2018.”
Toronto also ranked high in the individual categories for economic potential and business friendliness and also took second place home in them. It ranked seventh in Human Capital and Lifestyle and sixth in the Connectivity category.
“This location confirms that Toronto is one of the best places for businesses to invest, build, expand and succeed,” said Mayor John Tory. “Toronto is Canada’s economic engine, and I am confident that our city will come back stronger than ever in the years to come because of the work we are doing to build our city and continue to attract people and businesses.”
Toronto was knocked out in the overall city in the future category of New York City, but another Canadian city, Montreal, also came in the top 10 list and picked up fourth place.