Toronto’s economy tops amongst 25 Canadian cities: CIBC report

[isaidso]

I visit the Australian forums from time to time and there does seem to be a mindset that if your population isn't exploding and you don't have a sea of skyscrapers, a city doesn't have anything going for it. I think Hamilton and Winnipeg get the same type of treatment in Canada. Both had massive booms that made them wealthy a very long time ago, but later fell into the shadows as their chief industries fell into relative decline.

Australia's 2 big mining states are Western Australia and Queensland? We have a similar situation in Canada where resource rich provinces motor ahead, cause our dollar to appreciate, and in turn, put added pressures on manufacturing provinces to become ever more efficient. The only difference is that the Australian experience has been far more severe. We both have strong currencies, but the Aussie dollar is likely far more over valued. A case in point: Australian and Canadian GDP per capita (PPP) are basically the same, but GDP per capita (nominal) is about 30% higher in Australia.

Originally Posted by Filip

Where in Australia is your father? The majority of my mother's relatives live in Melbourne. I'm long overdue for a visit.

Brisbane. I have 2 uncles, 7 aunts, their spouses, and their kids in Australia in addition to my father. Most of them live in Melbourne. Basically every one on my fathers side of the family are Australians.

[Taller, Better]

I have a friend in Brisbane; nice place. They have a huge barbecue pit in their back yard which I envy tremendously...

[isaidso]

They seem to have 2 seasons in Brisbane, hot and melt your face off hot. It does look like a great place, but Melbourne is more up my alley.

[monkeyronin]

Originally Posted by eastadl

Australia has issues where the 2 mining states are booming too much and its stuffing up the economies of the other states and cities, mainly due to the high AUD, and the huge mining royalties that the 2 mining states get which means they are rolling around in money that the other states dont get.

Sounds just like Canada, but with mining instead of oil.

[isaidso]

There was an article in the Globe & Mail a few days ago about an unprecedented mining boom that's occurring nationally. Investment reached $16 billion not far off the $20 billion invested by the manufacturing sector, and a staggering rebound from the $2 billion registered in 2000. Saskatchewan's boom is heavily mining related, but it has now spread to Ontario, Quebec, BC, and a few others. It bodes well for evening out the gulf that's developed between oil rich Alberta and the rest of the country. Alberta GDP per capita is double Nova Scotia's for example. Such huge income discrepancies in one country is divisive and severely damages the ability of poor provinces to retain talent.

Ironically, the article mentioned that Alberta is quite mining poor. Good thing they have oil. Here's a link to the article:

http://www.theglobeandmail.com/repor...rticle2391599/

[Filip]

Ontario's north offers an untold wealth in mining. I wish they would capitalize on that sooner rather than later.

[isaidso]

There seems to be this southern Ontario perception that northern Ontario is impoverished and in decline. It's population isn't growing, but there are quite a number of high income towns there like Kenora. Mining investment in Ontario reached $3.4 billion and is now only half what was invested by Ontario's massive manufacturing sector. Much of this investment is bound to be in northern Ontario. Even places like Thunder Bay are making strides; its unemployment rate is now lower than Toronto's.

Northern Ontario should be the richest region of the province and it very well may be in the not too distant future.

[koolio]

Good thing Northern Ontario did not secede. Let those tax revenues roll into Queen's Park!

[duff+eglin]

Originally Posted by koolio

Good thing Northern Ontario did not secede. Let those tax revenues roll into Queen's Park!

Provincialize those companies and let the profits roll in too.

[isaidso]

Originally Posted by koolio

Good thing Northern Ontario did not secede. Let those tax revenues roll into Queen's Park!

I bet if northern Ontario does start to boom, talk of province hood will pick up steam. They'll want to keep the money in northern Ontario. If Canada is to see an 11th province, it's likely to be here more than anywhere else.

[Filip]

They most certainly will not!

Bite the hand that fed them? They will definitely have to share that wealth with the rest of the province.

[rbt]

Originally Posted by Filip

They most certainly will not!

Bite the hand that fed them? They will definitely have to share that wealth with the rest of the province.

Not to mention transfer payments to much of the rest of Canada if they do really well.

[Taller, Better]

You can't just pull out of the country because suddenly out of the blue you find you are in the black instead of in the red. There isn't enough population up north to have a proper, well rounded country. It would be a little dream based on greed alone.

[Kensingtonian]

They would try to become their own province, not their own country. If they did become a separate province they'd be larger than PEI and Newfoundland, about the same size as New Brunswick.

And I find it infuriating that newly rich regions all of a sudden think it's unfair that they have have to help the rest of the country. Southern Ontario never complained all those years we payed out transfer payments and supported the rest of the country with our booming manufacturing sector. Yet now, if I took a drink every time an Alberta politician complained about transfer payments I'd be stinking drunk every single day.

[Kensingtonian]

Like most of Canada's newspapers, the Montreal Gazette has become a tabloid. Nonetheless, it's funny to see how different people can use the same information to arrive at vastly different conclusions:

Ontario losing grip on its powerhouse status
http://www.montrealgazette.com/techn...137/story.html

[oceanmdx]

Originally Posted by Kensingtonian

They would try to become their own province, not their own country. If they did become a separate province they'd be larger than PEI and Newfoundland, about the same size as New Brunswick.

And I find it infuriating that newly rich regions all of a sudden think it's unfair that they have have to help the rest of the country. Southern Ontario never complained all those years we payed out transfer payments and supported the rest of the country with our booming manufacturing sector. Yet now, if I took a drink every time an Alberta politician complained about transfer payments I'd be stinking drunk every single day.

Name the Alberta politician who complained about equalization payments... Even Ralph Klein stated that he was okay with equalization payments, and he was the tightest ass in the history of Alberta... politicians all over Canada (Ontario and Quebec included) complain about transfer payments all the time... they all want more. Understand that "equalization payments" are very different from "transfer payments".

[monkeyronin]

Somewhat relevant:

World's top 25 cities for tech startups according to techcrunch.com:

Silicon Valley
New York City
London
Toronto
Tel Aviv
Los Angeles
Singapore
Sao Paulo
Bangalore
Moscow
Paris
Santiago
Seattle
Madrid
Chicago
Vancouver
Berlin
Boston
Austin
Mumbai
Sydney
Melbourne
Warsaw
Washington D.C.
Montreal

http://techcrunch.com/2012/04/10/sta...-startup-hubs/

[Kensingtonian]

Originally Posted by oceanmdx

Name the Alberta politician who complained about equalization payments... Even Ralph Klein stated that he was okay with equalization payments, and he was the tightest ass in the history of Alberta... politicians all over Canada (Ontario and Quebec included) complain about transfer payments all the time... they all want more. Understand that "equalization payments" are very different from "transfer payments".

I don't keep track of their names (not that relevant to me since I can't vote for them) but it's something I hear fairly regularly.

When I search "alberta transfer payments" on Google, this is the first site that comes up: http://www.freealberta.com/transfer_payments.html

[kwoldtimer]

Originally Posted by monkeyronin

Somewhat relevant:

World's top 25 cities for tech startups according to techcrunch.com:

Silicon Valley
New York City
London
Toronto
Tel Aviv
Los Angeles
Singapore
Sao Paulo
Bangalore
Moscow
Paris
Santiago
Seattle
Madrid
Chicago
Vancouver
Berlin
Boston
Austin
Mumbai
Sydney
Melbourne
Warsaw
Washington D.C.
Montreal

http://techcrunch.com/2012/04/10/sta...-startup-hubs/

I wonder how "Toronto" was defined for this ranking? Includes K-W, for example?

[SO143]

Originally Posted by monkeyronin

Somewhat relevant:

World's top 25 cities for tech startups according to techcrunch.com:

Silicon Valley
New York City
London
Toronto
Tel Aviv
Los Angeles
Singapore
Sao Paulo
Bangalore
Moscow
Paris
Santiago
Seattle
Madrid
Chicago
Vancouver
Berlin
Boston
Austin
Mumbai
Sydney
Melbourne
Warsaw
Washington D.C.
Montreal

http://techcrunch.com/2012/04/10/sta...-startup-hubs/

congratulations! T.O is punching above it's weight