Currently, there are great challenges surrounding the province of Ontario and Toronto as there is wide speculation of an economic crisis from the United States boiling over into Canada. However, Finance Minister Dwight Duncan is banking on growth in the financial services industry to help Ontario weather any looming economic storm. The center of this is in Toronto where it helped generate more than 50,000 new jobs since 2003. The Greater Toronto Area is home to 28 per cent of Canada’s financial services sector. The Greater Toronto Area is home to 28 per cent of Canada’s financial services sector and ranks 15th in the world as a financial center.
The Toronto Financial Cluster will be the driving force of this ever growing econoic development as it will help off-set the possible North American recession that is currently looming.
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