Toronto Receives $4 Million Boost for Skills and Technology
TORONTO, March 26 /CNW/ -
To help the Toronto Region attract and develop the best and brightest
financial sector talent to compete globally, the Ontario government will help
establish the Centre of Excellence for Education in Financial Services and
provide it with $4 million over three years.
The Centre will be the first of its kind in Canada. Beginning in 2008-09,
it will promote innovation and technology, attract more international students
to Toronto, and facilitate export of Ontario financial educational services.
It will work to maintain the breadth and quality of the intellectual and
entrepreneurial capacity that drive economic success and competitiveness in
this key sector.
"Financial services and professional business services are major drivers
of Ontario's knowledge economy. Financial services underline the point that
this province is a great place to invest," said Ontario Finance Minister
Dwight Duncan (http://www.fin.gov.on.ca/english/about/min.html). "We believe
the Centre of Excellence will help secure our talent advantage and create a
global hub for financial services education and training."
"Toronto is home to many innovative financial institutions that are world
leaders in their markets," said Janet Ecker, President of the Toronto
Financial Services Alliance (http://www.tfsa.ca/). "The Centre of Excellence
is an ideal way for us to capitalize on Toronto's competitive advantage and
attract even more talented people to work in Canada's most important
- Roughly 350,000 people are employed in Ontario's financial sector,
with 213,000 of them in the Toronto area.
- Toronto ranks 15th internationally as a global financial hub,
according to international surveys.
- Toronto's financial sector is the third largest in North America,
behind only New York and Chicago, based on employment.
- Toronto region is home to 28 per cent of the Canadian financial
- Since 2003, employment in Ontario's financial services sector has
increased by 12 per cent.
Learn more about the Toronto financial services sector www.tfsa.ca
See how Ontario is investing in skills to develop jobs for the future
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For further information:
For further information: Steve Erwin, Minister's Office, (416) 325-3645;
Scott Blodgett, Ministry of Finance, (416) 325-0324