Toronto Region to Waterloo Region Innovation Corridor Critical to Ontario’s Economic Prosperity
Toronto/Waterloo - The Toronto Region Board of Trade and the Greater Kitchener Waterloo Chamber of Commerce announce the creation of a working group and a business council to stimulate and promote the economic potential of the Innovation Corridor Region (ICR) between Toronto Region and Waterloo Region.
This initiative is being announced prior to Mayor John Tory’s visit to Waterloo Region on March 23, where he will be the keynote speaker at a Greater Kitchener Waterloo Chamber luncheon. The Corridor, which has been called Silicon Valley North, is a globally competitive ecosystem connecting over 12,900 companies, 2,900 start-ups and 213,000 employees.
The working group will also include the Cambridge Chamber of Commerce, the Guelph Chamber of Commerce, the Brampton Board of Trade, and the Halton Hills Chamber of Commerce. The Toronto Region Board and the Greater Kitchener Waterloo Chamber will be co-chairs of the group for the first three years, which will focus on promoting economic development and improving connectivity along the Corridor.
A Business Innovation Corridor Council, comprised of CEOs of leading businesses along the Corridor, is also being created. The Council will advise the Working Group and act as a sounding board to identify a multi-year development plan to maximize the Corridor’s potential and foster economic growth. Sectors represented will include information and communication technology, automotive and parts, aerospace, advanced manufacturing, human health sciences, food and beverage and financial services.
“The Innovation Corridor Region is an economic powerhouse that benefits the entire region but it doesn’t have the visibility it deserves or a clear plan to help create prosperity,” said Jan De Silva, President and CEO, Toronto Region Board of Trade.
“The creation of this working group and business council will greatly help to remedy these shortfalls.” “The Waterloo Region business sector, the GTA and all of Ontario will benefit from improved connections,” said Ian McLean, President and CEO, Greater Kitchener Waterloo Chamber of Commerce. “Improved coordination and connectivity along the Innovation Corridor will help create a significant circle of economic productivity and business growth.